Volume IconTMS Ep331: FPIs, Karan Virwani, fertiliser stocks, Santa Claus rally

Why have FPIs turned negative on India? Why does WeWork India CEO think his firm is just scratching the surface? Will urea subsidy boost fertiliser stocks? What is a Santa Claus rally? Answers here

ImageTeam TMS New Delhi
Illustration: Binay Sinha

Illustration: Binay Sinha

After three years of aggressive buying, foreign portfolio investors slammed brakes in 2022 and withdrew 1.21 trillion rupees from the Indian stock markets. The sellout was more aggressive in the first half. Overall, the market is on course to witness the highest-ever FPI outflows in any calendar year. So, why have FPIs turned negative on India in 2022? 
The effect of US Fed rate hikes has been far and wide. Not just the FPIs, but companies across most sectors have turned circumspect -- fearing a slowdown in demand. Co-working giant WeWork is also feeling the heat, as the tech industry is tightening the purse strings. Amid all this, the company is striving to gain a good foothold in big Indian cities. To know more about the plans, Business Standard’s Surajeet Das Gupta caught up with Karan Virwani, who is the founder and CEO of WeWork India. 

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Moving to markets, the recent fall in global fertiliser and natural gas prices are likely to bring respite to fertiliser companies. However, analysts caution that the Russian export duty on fertiliser may have a trickle down impact on the Indian industry. 

The year 2022 was hard on financial markets across the world. And now, towards the fag end of this year, as the Christmas is approaching, investors are still clinging to some hope. This time from Santa. Markets usually rally on the last five trading days of the year and the first two of the new year. This phase is called the Santa Claus rally. This episode of the podcast decodes it for you and more. 

First Published: Dec 23 2022 | 3:20 PM IST

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