Foreign investors extended their sell-off in Indian equities into the second half of April, with financials taking the hardest hit. The outflows were linked to the sector’s large weight in markets and rising inflation concerns. Meanwhile, power and capital goods saw notable inflows, supported by strong demand and supportive global trends.
Non-defense capital goods orders excluding aircraft rose 3.3% in March, topping forecasts and following an upwardly revised 1.6% gain in February. The data, released by the US Census Bureau, is closely watched as a proxy for future business spending and investment plans, suggesting momentum in demand for equipment and production capacity.
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September IIP points to a softer industrial pulse, with manufactures—over 77% of the index—contracting by 3.9%. The sharpest drag came from automobiles, where motor vehicles, trailers and semi-trailers fell 14.9% year-on-year, pulling down broader output despite other components.
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