Yesterday was the biggest single-day fall since March 23, 2020 and FIIs and DIIs net sold equities worth Rs 12,436 crore and Rs 3,319 crore respectively.
According to provisional data from the exchanges, FIIs bought Rs 26,776 crore and sold Rs 39,212 crore. Meanwhile, DIIs picked up Rs 25,964 crore in shares and offloaded equities worth Rs 29,283 crore in the session.
Sebi issued warning letters to two unregistered investment advisors, Navin Sarwar of Udaipur, Rajasthan, and Pradipkumar Dhobi of Vadodara, Gujarat, on June 4. They were warned against providing investment advisory services without proper registration, which violates the SEBI Act, 1992, and related regulations.
This action is part of Sebi’s recent efforts to crack down on unregistered advisors, a shift from its usual practice of investigations and penalties.
Heatwave in May seems to have affected the manufacturing activity. The manufacturing PMI fell from 58.8 in the previous month to a three-month low of 57.5 in May.
However, May recorded the highest level of positive sentiment among manufacturing firms in just under a decade, resulting in increased job creation
Unsecured loan which has been growing for the last couple of months seems to have slowed down thanks to RBI enhancing the risk weightage on such exposures. The unsecured loan growth came down to 8% in April, from 23% in November 2023.
In November last year, the banking regulator directed banks to set aside more capital as risk weights for loans disbursed toward unsecured personal loans, credit cards and lending to NBFCs.
