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Midcap stocks faced heavy selling in February, dropping up to 30% as investors booked profits and cut losses. Global concerns, including Trumps tariff threats and US slowdown fears, along with weak Q3FY25 earnings, weighed on sentiment. The BSE Midcap index plunged 10%, with 123 of 132 stocks ending in the red. Key losers included RVNL, Tube Investments, IREDA, and Mphasis.
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India's foreign exchange reserves surged to a two-month high of $640.5 billion as of February 21, with an increase of nearly $5 billion in a week. The Reserve Bank of India's data showed foreign currency assets, the largest component of reserves, rising by $4.25 billion. This marks a recovery from the reserves' dip influenced by market sell-offs earlier.
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The Reserve Bank of India bought bonds worth 40,000 crore through open market operations to increase liquidity in the banking system. This brings their total bond purchases in February to 80,000 crore. Market participants anticipate further liquidity injections through similar operations or repo auctions. RBI had also made significant bond purchases in January.
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News and Media
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