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MOSL: INDIA STRATEGY – AUG’22 | The Eagle Eye (India outperformed key global markets in Jul’22

INDIA STRATEGY – AUG’22 | The Eagle Eye (India outperformed key global markets in Jul’22) 

The key highlights of our Aug’22 edition of ‘The Eagle Eye’ are as follows:

• India outperformed key global markets in Jul’22 amid various challenges. All major sectors rose MoM in Jul’22 and Midcaps outperformed. A majority of the BSE-200 constituents (92%) closed higher
• Activity: FIIs turned net buyers in equities after nine consecutive months of outflows; Domestic inflows slowed down in Jul’22. Average daily cash volumes remained weak in Jul’22 at INR498b – down 43% from its Oct’21 high
• DII stake in Nifty-500 was at a multi-quarter high; whereas, FII holding in Nifty-500 declined for the sixth consecutive quarter
• Forex reserves declined USD70b from its peak of Oct’21 to USD572b. Reserves were at their lowest levels since Nov’20. India witnessed the highest and fastest rate hikes among Asian EMEs
• Over the course of Jul’22, our in-house research team published several interesting and insightful reports. Some of the notable ones are: a) Life Insurance Corporation: An insurance goliath crafting its own growth path, b) ICICI Lombard: Successfully weathering the storm, c) State Bank of India: Is 450 the new 250?, and d) Strategy: Employee cost of corporate India - decoding a decade.