- Beginning in June 2024, the 1974-founded ACU is anticipated to add India to its Emerging Market Index.
- The Indian economy is concerned about rising oil prices, but the prognosis is positive because of the improved September monsoon.
- The country’s inclusion in the JPMorgan emerging market debt index demonstrates confidence in its economy.
Beginning in June 2024, the 1974-founded Asian Central Bank (ACU) is anticipated to add India to its Emerging Market Index. Analysts predict that this action will result in sporadic inflows of $22–$30 billion.
In terms of initial flows, the inclusion will increase foreign ownership of bonds and is advantageous for the currency.
Sensex and Nifty
The Indian economy is concerned about rising oil prices, but the prognosis is positive because of improved September monsoon conditions and a decline in the cost of some essential foods.
A. Menarini India and A. Menarini Asia-Pacific Holdings have signed a contract with Lupin for the purchase of five legacy trademarks and the related trademark rights.
India has also been included in the index by JPMorgan, with 23 Indian Government Bonds (IGBs) totaling $330 billion in notional value. Much before the deadline for inclusion, which is June 2024, the international demand for GoI bonds will drive down their yields.
Higher corporate profits as a result of the decrease in the cost of capital will increase stock prices, allowing the stock market to reach new heights.
In sum, 27.85 million shares—or roughly 60% of the free-float equity of PNB Gilts—have been traded on the NSE and BSE thus far. A project worth Rs 6,302 crore has been given to NCC in collaboration with J. Kumar Infra Projects (JKIL) by the Brihanmumbai Municipal Corporation (BMC).
Ajay Seth, the Indian government’s economic affairs secretary, told reporters on Friday that the country’s inclusion in the JPMorgan emerging market debt index demonstrates confidence in its economy.
The index suite and the Government Bond Index-Emerging Markets (GBI-EM) index, which are benchmarked by around $236 billion in international funds, will cover India’s domestic bonds.