India Equity Deals Hit Record While Secondary Market Struggles

India Equity Deals Hit Record While Secondary Market Struggles Good morning... I’m Ashutosh Joshi in Mumbai, and we are heading into Asia’s busiest earnings week of the current reporting season. Regional equities have edged lower early on Monday, with traders looking forward to Nvidia’s results and Federal Reserve Chair Kevin Warsh’s commentary at the annual gathering in Jackson Hole, Wyoming as the two major events this week. Indian shares may have lost momentum in August — the Nifty is down for the month and capped a second straight weekly drop on Friday — but local equity capital markets are booming like never before. We bring you more on that below in today’s Markets Buzz section. Meanwhile, sugar stocks could see some action today after futures in New York had their best week since May 2025 amid tight supplies in India and volatility fueled by demand uncertainty. Beyond equities, investors will keep an eye on the rupee, foreign fund flows and liquidity, as we approach the end of the special window for foreign-currency deposits. In today’s newsletter, we write about: India’s equity capital market is having a banner month, a sharp contrast with the lackluster performance of the secondary market. Nearly $10 billion worth of deals have been completed in August, the most on record. The tally includes the government’s $3.2 billion LIC stake sale and Manipal Health’s $958 million initial public offering, along with a string of block trades and institutional placements. Mutual funds, insurers and retail investors have all been eager buyers, while foreign money has also started returning. That strong demand has made it easier for the market to absorb large deals and bodes well for upcoming big-ticket offerings from NSE and Jio Platforms.