Market Dip Amid Key Economic Developments: Nifty Falls as FPIs Surge and Regulatory Changes Loom

Market Summary

The benchmark Nifty index fell by 0.14% to close at 26178.9 on 27-Sep. The Nifty Midcap150 index fell by 0.03% to close at 22360.8. The Nifty Smallcap250 index fell by 0.19% to close at 18399.8. The 10yr yield rose by 1 bps to close at 6.78%. The rupee lost 0.07% to close at 83.69 against the US Dollar.

Key News

* Investment under the PLI scheme is expected to provide a significant 40% increase to employment generation to 1.2 million, from 0.85 million jobs created at present, as per Minister Piyush Goyal, reports Moneycontrol
* India’s oil marketing companies are set to increase the country’s crude oil refining capacity by 35-40 million tonnes by fiscal 2030, reaching a total of 295 million tonnes: Crisil Ratings, reports ET
* L&T Semiconductor Technologies plans to start manufacturing semiconductor products within two years, reports ET
* FPIs inflow hit 9-month high in equities in September, surpasses Rs 1 trillion mark, reports BS
* Starting October 1, nine regulatory and tax changes will impact the equities market, including uniform broker fees, a new buyback structure, higher taxes on derivatives, and faster bonus issue trading, reports FE
* Maharashtra continues to attract significant foreign direct investment, securing $8.5 billion in the June quarter, reports ET
* Electric vehicle sales are rising globally due to policy pushes and stricter emission norms, but hybrid vehicles are gaining popularity faster. India has also seen a slight increase in hybrid penetration despite fewer models available compared to electric vehicles, reports ET
* CBIC is likely to introduce a mechanism to track reverse charge liability of businesses under the GST framework to improve compliance, and ensure that excess ITC is not availed by them, reports FE