India's top information technology companies are expected to report another subdued quarter, as AI-driven pricing pressure, weak client spending, and global geopolitical turmoil continue to weigh on growth, nine brokerages said.
In broad terms, developing world stocks are delivering the goods for investors this year, with the widely followed MSCI Emerging Markets Index up 26%. Count India stocks among the emerging markets laggards, because the MSCI India Index is off 8.52%.
Shares of Indian banks rose more than 1% on Tuesday, making them the top-performing sectoral gainers after the Reserve Bank of India issued detailed guidelines for a concessional foreign exchange swap facility that lenders can use for overseas borrowings. The move forms part of a broader package of measures announced by the central bank to attract foreign capital into the country at a time when India's economy is facing growth and inflation challenges.
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This fund is focused on investing in companies that are incorporated and traded in India. It aims to maintain at least 95% of its total assets in securities or investments that closely match or have substantially identical economic characteristics to those constituent securities that make up its designated index. This index primarily consists of profitable Indian companies that are accessible to foreign investors, based on criteria assessed during the fund's annual index screening. The fund operates under a non-diversified strategy, concentrating its investments in a select group of securities to achieve its investment objectives.