Equity benchmark indices Sensex and Nifty started Friday’s opening trade on a quiet note after three days of the selling spree. The 30-share BSE Sensex touched a low of 66,185 in opening bells, but soon rallied to a high of 66,418 – and was up over 100 points at 66,340. The NSE Nifty was seen holding the 19,750 level.
In a significant development that could pull in foreign funds into India’s debt market JPMorgan Chase & Co will add Indian government bonds to its benchmark emerging-market index starting June 28 in 2024.
The inclusion of the index follows the Indian government’s introduction of the “FAR program in 2020 and substantive market reforms for aiding foreign portfolio investments,” the American multinational investment bank JP Morgan said in a statement.
Further details are awaited…