More than 37% of the money raised by IPOs YTD was through 7 new-age companies. The skewed weight of these IPOs shows the potential they have in unlocking the value of the Indian capital market.
REC and IPCA will also be dropped as six new companies make their debut in index rejig.
Foreign investors find China, other Asean markets more favourable, say brokerages.
Foreign portfolio investors have seen ₹60,358 crore net inflows in equity, helping reverse March’s record equity outflow of ₹61,973 crore.
Benchmark indices record their biggest single-day gain since May 2009.
Analysts see index inclusion, Gruh Finance merger as positives but sustaining spreads may pose challenges.
