India stock market nears record month raising nearly $10 billion
Business
India's stock market is having a huge month, raising nearly $10 billion, heading for its best month on record.
The August tally was led by the government selling $3.2 billion worth of Life Insurance Corp. of India shares, plus Manipal Health's big IPO, and lots of block trades.
Inflows lift most new IPOs
Fresh cash from mutual funds, insurers, and everyday investors is driving the surge, with global funds jumping back in too.
Confidence is high: 20 out of 24 companies that launched this month are trading above their IPO prices.
Jio Platforms and NSE offerings due
Major offerings from Jio Platforms and the National Stock Exchange are expected later this year, so the momentum could keep going strong.