Street signs: Capital's great takeoff, IPO buffet, SMEs defy gravity

Brokers highlight strong demand for three or four of these IPOs, driven by attractive grey market premiums

Capital’s great takeoff: Soaring to Washington’s dollar sky

 

Domestic markets faced turbulence last week, with the S&P BSE Sensex falling by 5 per cent, marking its worst weekly decline since June 2022. The primary factor behind this downturn is the flight of capital from India and other emerging markets (EMs) to the US. According to Elara Capital’s liquidity tracker, EM funds saw a three-year high outflow of $2.9 billion. In addition, Asia ex-Japan funds saw $1.6 billion leave, bringing total EM outflows to $4.7 billion. In contrast, the US saw $82 billion in inflows, the strongest since March 2018 and