FPI outflows continue unabated for the second month in a row – The Government in the Union Budget proposed to increase surcharge on Individuals and trusts earning more than `2 cr. and `5 cr. Though the Government has rolled back the surcharge on equity investments FII selling continued unabated in August also as they pulled out `17,592 cr. during the month after pulling out `12,419 cr. in Jul’19. FII flows for calendar year 2019 now stands at `47,311 cr.
We recommend our top picks as it has outperformed the benchmark BSE 100 since inception. We believe that consumer (both discretionary and non discretionary) space and private sector banks (both corporate and retail) offers good growth opportunity going forward despite volatile market environment.

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