Telecom index in green, but Idea & Airtel fall
From the beginning of the year we saw positive flows into emerging markets, including India. We have seen a mild reversal in India in February. We are getting into some uncharted territory. At this moment, FPIs are in a wait-and-watch mode. While they will continue to invest, it is more a question of allocation, i.e, how much they are going to invest in emerging markets.
From the beginning of the year we saw positive flows into emerging markets, including India. We have seen a mild reversal in India in February. We are getting into some uncharted territory. At this moment, FPIs are in a wait-and-watch mode. While they will continue to invest, it is more a question of allocation, i.e, how much they are going to invest in emerging markets.
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| Capitalstars financial research pvt.ltd. |
The BSE Telecom was trading 0.21 per cent up at 1,394 around 12:50 pm (IST) on Thursday with shares of GTL Infrastructure (up 9.75 per cent) and GTL (up 7.73 per cent) as top gainers.
However, shares of Sterlite Technologies (down 1.11 per cent), Idea CellularBSE -1.29 % (down 1.04 per cent), Bharti AirtelBSE -0.36 % (down 0.51 per cent) and Reliance CommunicationsBSE 0.21 % (down 0.42 per cent) were down around that time.
However, shares of Sterlite Technologies (down 1.11 per cent), Idea CellularBSE -1.29 % (down 1.04 per cent), Bharti AirtelBSE -0.36 % (down 0.51 per cent) and Reliance CommunicationsBSE 0.21 % (down 0.42 per cent) were down around that time.
India’s imports from the US are not significant. The real threat is from China, which is our emerging market competitor. If the Trump tariff causes any global trade war influencing the currency market, India cannot remain immune to global currency moves. But, there is no direct correlation.
Benchmark BSE Sensex was 37 points down at 33,799, while the NSE Nifty50 index was down 16 points at 10,395.
Benchmark BSE Sensex was 37 points down at 33,799, while the NSE Nifty50 index was down 16 points at 10,395.
We are going to have a current account deficit, which is expected to be 1.5-2% for the next year with high oil prices, commodity prices and other imports. The rupee is expected to depreciate 3-3.5% per year with the widening current account deficit.
On the other hand, shares of Tata TeleservicesBSE 4.90 % (Maharashtra) (up 4.90 per cent), Aksh Optifibre (up 4.88 per cent), ITI (up 3.10 per cent), Mahanagar Telephone NigamBSE 2.23 % (up 2.98 per cent), Tejas Networks (up 2.02 per cent).
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