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An index of Asian shares retreated while equity futures for US stocks rose slightly, indicating shares may bounce back after the S&P 500 fell more than 2% Monday. A gauge of the greenback steadied in early trading, after weakening to a 15-month low. Gold jumped to another record on haven demand.
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The NSE's Nifty Bank index surged 1.9% on Monday, boosting the gauge to record highs, scaling the highs last made on September 26. The broader NSE Nifty surged 1.15% to 24,125.55 points while the BSE Sensex was up 1.09% to 79,408.50 points.
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SEBI is contemplating allowing foreign individuals to directly invest in Indian stocks, currently accessible via the FPI route. This proposal, still under consideration, aims to broaden the ownership base but faces hurdles like KYC compliance and money laundering risks. While most major markets permit direct foreign retail investment, Indian authorities are proceeding cautiously.
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