BSE CEO optimistic about economics and market; make efforts to deepen the market for derivatives

BSE Managing Director and CEO SundaraMan Ramamurthy says that the Indian economy has a solid growth path, and that stock markets will benefit from a strong domestic participation despite foreign outsourcing.

Speaking with ET now, Ramamurthy emphasized that the GDP growth of India in the last quarter is a reflection of rising demand and effective policy reforms, including GST, tax reductions and structural changes. “India is in a very important position worldwide with its consumption story, rising middle class and energy independence drive. The growth momentum is here to stay,” he said.

About worrying about persistent sale by foreign portfolio investors (FPIs), Ramamurthy pointed to strong support from domestic institutional investors (DIIS) and retail investors. “If FPIs RS sell 7,000 crore, Diis are ready to buy RS 10,000 crore. This financial muscle comes from investment funds, driven by savings from households. Indian markets are nowadays resilient, unlike earlier times when worldwide shocks had a greater impact,” he explained.

Deeper of vital importance for market strength

Ramamurthy also spoke about BSE’s efforts to deepen the market for derivatives. With the due date changes and an increase in non-extra-week contracts, he noted that growing participation. “We see a growth of 3-5% in volumes of the following week and monthly contracts. This floor is vital for market strength,” he said.

On the IPO pipeline, Ramamurthy said that India has collected around $ 10 billion in the past eight months via IPOs, with $ 15 billion already approved by Sebi and another $ 20 billion in the pipeline. He emphasized the importance of SME lists and noted that more than 600 SMEs were already mentioned, with the last 100 that RS increased 4,000 crore in new capital.

The investment fund industry, he added, has also seen rapid growth. Monthly orders have tripled in the last 30 months, with 6.5 crore orders being crossed per month. With the young people of India and the increasing financial financing, he expects investment funds to continue to expand beyond the top 30 cities. “Good times are the sense of stock markets. I was born positively,” said Ramamurthy, who underlines his optimism for both the economy and the markets.(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)