Jarvis Invest rounds up today’s stock market news as Bank of America and SBI project India’s Q2 FY27 real GDP growth at 7.7% to 7.8%, foreign investors put ₹60,698 crore into Indian equities in seven trading sessions, and mutual funds record ₹1.73 trillion in October net inflows. The day’s other developments include Fairfax’s potential exit from IIFL Finance, a larger Rabi fertiliser subsidy, and two updates from the IPO market.
Stock market news | BofA and SBI see Q2 FY27 GDP growth at 7.7% to 7.8%
Two major research houses, Bank of America and SBI have pegged Q2FY27 real GDP growth in the region of 7.7%-7.8%. That is almost at par with the first quarter, and is sharply higher than the GDP projected by the RBI. More importantly, the SBI Research has pegged nominal GDP growth in the second quarter at around 11.6%, which is much higher than previous quarters. On the GDP deflator front, while the inflation impact has been high on agriculture and mining, manufacturing is likely to see negative GDP deflator while services deflator is expected to be around 3.5%.
Stock market news | FPIs put ₹60,698 crore into Indian equities in seven sessions
In the first 7 trading days of November up to 11-November, FPI inflows into equities has been a whopping ₹60,698 crore or $6.43 billion. The inflows are almost entirely in the secondary markets, with IPO markets remaining quiet in this period. In addition, FPIs also infused $648 million into debt paper, taking the total net FPI investments into India in the first 7 trading days of November to $7.07 billion. However, despite the positive triggers from November, the net selling by FPIs in calendar year 2026 is still fairly high at $(24.98) billion, on the back of legacy selling.
Stock market news | Fairfax may sell its remaining IIFL Finance stake
Even as Blackstone is making an entry into IIFL Finance, Fairfax of Canada may look to exit IIFL Finance Holdings in full. It will use these funds to finance its purchase of IDBI Bank. Also, Fairfax has stakes in CSB Bank, and Go Digit, and they would be wary of too many regulatory hurdles to their purchase of the 60.72% stake in IDBI Bank. Fairfax will look to consolidate all their financial services businesses in India under the IDBI Bank banner. Fairfax had already diluted its stake in IIFL Finance from 22% to 11%, and plans to take a total exit, as Blackstone moves in.
Stock market news | Mutual funds draw ₹1.73 trillion in October
For October 2026, mutual funds saw net inflows of ₹1.73 trillion with aggressive buying across all open-ended categories. Debt funds saw heavy buying in short-end funds; while buying in equity funds was dominated by Large & Mid-Cap Funds, small cap funds, and flexi-cap funds. There was a revival of interest in gold and silver ETFs in the passive category. SIP flows for October were slightly lower than September at ₹32,160 crore, but the SIP Stoppage Ratio spiked to 116%. Net AUM of mutual funds stood at ₹83.39 trillion as of October, across 28.78 crore folios.
Rabi fertiliser subsidy rises 64% to ₹62,370 crore
The government has approved 64% higher Rabi fertilizer subsidy this year at ₹62,370 crore. This has been necessitated due to a sharp spike in the price of global fertilizers. This spike in fertilizer subsidy in the Rabi season will shield the farmers from any global price hike. This year, India’s fertilizer inventories are higher by 36% yoy at 235.21 lakh tonnes. In 2026, the Rabi sowing has been nearly 36% lower than the same period last year in terms of hectares covered. This fall in Rabi sowing has been due to weak rainfall in October, soil dryness, and low reservoir levels.
Stock market news | Samvat 2082 IPOs raise ₹2.23 lakh crore
The recently concluded Samvat 2082 has been one of the best years for the IPO market ever. A total of 375 IPOs raised a sum of ₹2,23,000 crore, including nearly ₹11,000 crore raised by the SME board. Out of these 375 IPOs, a total of 230 IPOs are trading above the IPO price. The mainboard fund raising through the IPO route was 19.6% higher than the previous year. What is of greater interest is that; this Samvat saw a mere 4.8% rise in the OFS collections, whereas fresh issues grew by 42% on a yoy basis. Jio Platforms was the biggest IPO of Samvat 2082; and of all time.
Amber Enterprises unit IL JIN Electronics files for ₹2,500 crore IPO
IL JIN Electronics, a unit of Amber Enterprises, has filed DRHP with SEBI for its proposed ₹2,500 crore IPO. The IPO will entirely be a fresh issue of shares with no offer for sale (OFS) component in the IPO. Bulk of the fund raised will be used for repayment of debt and for purchase of machinery and equipment for the business. IL JIN Electronics is a vertically integrated electronic design and manufacturing company. It operates across 4 verticals viz., Electronics Manufacturing Services (EMS), Printed Circuit Boards (PCB), Power Electronics, and Industrial Automation.
Foreign ownership of NSE-listed companies falls to its lowest since 2012
FII ownership in NSE-listed companies fell from 15.9% as of June quarter to 15.57% in the September quarter. This is the lowest FII ownership level since 2012. Private promoters raised their stake in NSE-listed companies to a 3-year high of 41.93%. Mutual fund ownership in NSE-listed stocks rose to 11.82%, making the 13th consecutive quarter of rising MF stake in Indian companies. The data points to a gradual shift in Indian stocks from FPI ownership to greater ownership by DFIs, and promoters. FPIs raised their ownership in IT and consumer discretionary stocks.
Conclusion
Jarvis Invest’s stock market news roundup brings together two developments worth tracking over different time frames. The Q2 GDP estimates point to growth close to the first quarter’s pace, while November’s foreign buying marks a stronger start to the month against a backdrop of net selling for the year. In the primary market, the faster growth in fresh-issue proceeds during Samvat 2082 shows that companies raised substantially more new capital than in the previous Samvat.
Disclaimer
This article is for informational and educational purposes only and should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult a SEBI-registered investment advisor before making investment decisions.
