Sensex Trades Marginally Higher; M&M And IndusInd Bank Top Gainers

Share markets in India are presently trading marginally higher. Sectoral indices are trading mixed with stocks in the consumer durables sector and auto sector witnessing maximum buying interest while telecom stocks and realty stocks are witnessing selling pressure.

The BSE Sensex is trading up by 91 points (up 0.3%), while the NSE Nifty is trading up by 30 points (up 0.3%). The BSE Mid Cap index is trading up by 0.1% while the BSE Small Cap index is trading down by 0.2%.

The rupee is trading at Rs 71.72 against the US$.

Speaking of Indian share markets, more than 40 foreign pension funds (endowments and university and family foundations) registered with the Securities and Exchange Board of India in 2018.

Foreign Pension Funds are Making a Beeline for India

 

Here's what Tanushree Banerjee, Co-head of Research at Equitymaster, wrote about it on one of the recent editions of The 5 Minute WrapUp...

  • According to OECD, the 20 largest pension funds together hold about 43.2% of total global pension assets. Even if India were to receive 5% allocation, it will mean a boom for Indian stock markets.

    In last three years, there has been a consolidation as a result of stronger growth among the major players in the pension landscape. And these players are likely to concentrate more on geographies that offer stronger returns apart from relative safety, like India.

    However, the fact is that as a percentage of GDP, India's own pension fund assets are miniscule, even compared to that of other developing economies. And this could bring in a huge crisis in the decades ahead.

    About a quarter of the projected increase in the global population aged 15-64 years between 2010 and 2040 will occur in India. However, only 7.4% of India's working age population is covered under a pension program. That compares with 31% for Spain and 30% for Brazil, according to the World Economic Forum's report on Global Human Capital.
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