India remains insulated from macroeconomic volatility, scaling new highs driven by robust institutional flows. The quarter also saw robust DII inflows, with FII turning buyers in September with the best performing sectors driven by pharma, FMCG and IT. The secondary market saw a surge in promoter and PE/VC block deals this quarter. DIIs continue to be strong supporters of new-age IPOs, reflecting confidence in their growth potential.

Highlights

• India's weight in the MSCI EM Index scaled new heights in the beginning of September reaching 22.27%.
• India's forex reserves reached a record $705bn, becoming the fourth country to surpass $700bn, reflecting strong economic resilience.
• Investors continued to favor thematic funds, while a preferance for stable returns led to renewed favor for large caps.
• As markets hit record highs, investors are gravitating towards defensive sectors like FMCG, driving stock performance and supporting strong growth.