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Informist, Thursday, Aug. 28, 2025

 

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--SEBI: Total primary mkt issuance INR 1.23 tln in Jul, down 11% from Jun
--CONTEXT: SEBI releases August bulletin
--SEBI: Debt issuances saw slowdown Jul due to sluggish pvt placement market
--SEBI: Premium options turnover Jul down 3% on month on NSE, down 2% on BSE
--SEBI: Jul futures turnover on NSE down 5% on month, on BSE down 40% on month
--SEBI: Net FPI outflow INR 55.38 billion in July
--SEBI: FPIs turned net sellers July in equity after 3 months of inflow
--SEBI: FPIs equity outflow in July likely due to US tariff uncertainty
--SEBI:Trailing PE ratios across global mkts moderated vs their highs in 2024
--SEBI: Indian equities continue to trade at premium, below only US mkt
--SEBI:Jul-end India 10-yr govt bond yield one of highest among emerging mkts

 

MUMBAI/NEW DELHI – The total funds mobilised by companies through equity, debt, and hybrid issuances in the primary market fell 11% on month to INR 1.229 trillion in July, Securities and Exchange Board of India said in its latest monthly bulletin for August released Thursday. This was largely due to halving of total funds mobilised from the debt segment in July compared with June "owing to sluggish private placement market", the market regulator said in the bulletin.

 

On other hand, equity issuances in the primary market doubled on month to INR 638 billion in July, SEBI said. Data from the bulletin showed there was INR 245.62 billion of equity initial public offerings for the main board of stock exchanges in July, much more than 138.5 billion for Apr-Jun. The SME platform IPOs had total issue size of INR 14.85 billion in July, as against INR 16.14 billion in the first three months of the current financial year. In the primary market for debt, the total issue size of private placement of debt was INR 561.09 billion in July as against INR 3.266 trillion raised in Apr-Jun. 

 

In the equity derivatives segment in July, the notional options turnover of the National Stock Exchange rose 16% from the previous month and that of the BSE increased 30%. However, the premium options turnover of the NSE fell 3% from a month ago and that of the BSE declined 2%. In the futures segment, NSE's turnover fell 5% on month in July and that of the BSE decreased 40%. 

 

When it comes to foreign portfolio investments, they turned net sellers in July after three consecutive months of buying domestic equities. The net FPI outflow during the month was INR 55.38 billion. Most of the selling pressure came in the second half of the month amid increased uncertainty about US tariffs, as per the bulletin.  

 

SEBI said the domestic benchmark indices underperformed in July compared with other major global markets. Domestic equities continue to trade at a premium and is higher than other developed and emerging markets, except the US. The Nifty 50's trailing price-to-equity ratio of 23 at the end of July reflects strong market optimism, SEBI said in the bulletin. The trailing price-to-equity ratios across global markets moderated from their peak levels in 2024, it said. Benchmark indices Nifty 50 and BSE Sensex have fallen almost 4?ch in July from the previous month.

 

Analysts have been saying that the domestic equity market's valuation remains expensive but they are not worried about a sharp correction in the medium term as the long-term growth prospects of India is in favour of the bulls. They had also said the recent goods and service tax rationalisation plans, income tax relief announced during the Union Budget, a likely pick-up in government as well as private capital expenditure, and better earnings growth will support the equity market's growth. 

 

SEBI also said India's 10-year government bond yield was one of highest among emerging markets at the end of July. All major currencies, including the Indian rupee, depreciated due to a stroger US dollar, the market regulator said. The rupee depreciated for the third consecutive month in July to a low of 85.19 per dollar.  End

 

US$1 = INR 87.62

 

Reported by Rajesh Gajra and Anjana Therese Antony

Edited by Akul Nishant Akhoury

 

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