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The latest outflow came after FPI investment in equities had hit a four-month low of Rs 12,262 crore in August. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.

The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore. Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore. The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore.

JSW Infrastructure is the fastest growing port-related infra company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23.

The union government is planning to seek Cabinet approval for a Rs 5.25 lakh crore investment programme during fiscal years 2024-31 to improve rail connectivity, which analysts believe will benefit the company. Despite a stellar jump in share price during the month, there were signs of profit booking among rally in railway stocks including in IRFC towards the end.

The dividend, if declared, will be paid to the equity shareholders of TCS whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date.Shares of TCS will likely trade ex-dividend on the day or a day before the record date.

A report from Statista shows that the Indian cryptocurrency market is likely to touch $222.70 million by 2023 making it crystal clear that cryptocurrency is here to stay. Blockchain, and Web 3.0, the core technologies behind crypto have been already implemented across industries and are thought to be the foundation of the next big Metaverse trend.

“What happens in all these financial companies is that when they raise money at a higher book value, then on price to book, they start looking cheaper, that is what happened with Bajaj Finance and it rallied and Chola is doing the same thing. So, many of these companies are just taking advantage of the very high price to book they are getting to raise capital.”

Areas such as domestic consumption, building materials, home consumption, and manufacturing show potential for growth. However, caution should be exercised when considering valuations. Playing specific themes in the market is the best approach. The yield gap between the US and India is at a decade low, which could impact FPI flows and currency. One should be selective in deploying new money, focusing on sectors like home improvement, technology, and manufacturing.