• Business

    DII: As FPIs bail out, DIIs riding on retail fuel fund a bailout

    Mumbai: Domestic institutional investors (DIIs) led by mutual funds and insurers have pumped ₹2.16 lakh crore into Indian equities so far in 2022, helping cushion the impact of the ₹2 lakh crore plus outflow from foreign funds on the stock market. Unabated flows from retail investors into equity mutual fund schemes have been the main driver of domestic money into the stock market. From October 2021, when the outflows from FPIs started, DIIs have pumped in ₹2.8 lakh crore into stocks here. FPIs have sold Indian stocks worth ₹2.4 lakh crore since October 2021. That’s when benchmarks Sensex and Nifty last hit record highs. “Without DII support, the market (Nifty)…

  • Business

    Strategist who nailed the recent S&P 500 top says three things are needed for a market bottom

    Wariness is in order after the S&P 500’s bear-market finish and a potential 75 basis-point Fed hike just one day away. Gains for stock futures and a potential bounce are fading fast. Morgan Stanley’s Mike Wilson, who can count some wins after pounding the table this year over a gloomy stock setup, told clients on Sunday that the S&P is “headed toward 3,400 before a more tradable low is in.” “With growth now the main risk to stocks, our focus remains on names that can deliver on earnings in a very difficult environment for many companies to navigate,” said Wilson. “We continue to like classic late-cycle winners – defensives and energy –…