Daily turnover has reached almost $14 billion, the highest since early November, according to data compiled by Bloomberg. The revival follows a drop to below $11 billion in early March, when significant foreign fund outflows pushed local shares to multi-month lows.
BloombergA swift rebound in Indian equities, driven by renewed global investor interest and better-than-expected quarterly results, saw proceeds from block trades and secondary offerings top $5 billion in May, the most since March 2024, the data show. The benchmark Nifty 50 Index is trading about 6% away from its record highs reached in September.Zinka Logistics Solutions Ltd., Aptus Value Housing Finance India Ltd. and Yes Bank Ltd. were among stocks that witnessed a surge in volumes Tuesday, fueled by multiple block trades. True North, a private equity investor, and other investors sold over $175 million worth of Niva Bupa Health Insurance shares in a block deal the previous session, exchange filings show.
“ECM activity has really picked up. You could expect qualified institutional placements and IPOs coming soon,” said Manan Lahoty, head of capital markets at the Indian law firm Cyril Amarchand Mangaldas.
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