GAGA Share Market News

[hfe_template id='11223'] [ad_1] A surge in share supply from initial public offerings and sales to institutions is adding pressure on Indian equities, which are already grappling with weak earnings and selling by overseas investors. Hyundai Motor India Ltd. raised $3.3 billion in the nation’s largest IPO on Thursday, and further listings worth $6 billion have been approved by the regulator, according to data from primedatabase.com. This supply overhang coincides with slowing corporate earnings and withdrawals of over $7 billion this month by global funds. While aggressive purchases by local institutions have buffered the outflows, the stock market is still set for its worst month in more than two years. “Given the increase in supply, strong domestic fund flows might not be sufficient to ensure that the market is only in an uptrend,” said Ashish Gupta, chief investment officer at Axis Mutual Fund, which has $37 billion in assets. Bloomberg With Hyundai’s proceeds, India...