India Opens Doors Wider for Global Investors

The Government of India has announced sweeping reforms to attract more foreign investment into Indian equities and government securities (G-Secs). These include higher limits for overseas investors, tax exemptions on G-Sec returns, and easier rules for long-term foreign capital. The changes aim to make India’s markets more globally competitive while boosting foreign exchange inflows.

Key Reforms Announced

• Higher Equity Investment Limits: Individual foreign investors (PROIs) can now invest in Indian listed companies under the Portfolio Investment Scheme. Limit raised from 5% to 10% per company, with an overall cap of 24% (up from 10%).
• Expanded G-Sec Access: FPIs can now invest in 15-, 30-, and 40-year government securities. Sovereign Green Bonds also included under the Fully Accessible Route (FAR). Restrictions on short-term, concentration, and security-wise limits removed.
• Tax Exemptions on G-Secs: From April 1, 2026, FPIs will be exempt from income tax on interest and capital gains from G-Secs. Similar exemption extended to the Bank for International Settlements (BIS).

Why This Matters for India

• Boosts foreign capital inflows: Pension funds, insurance firms, and sovereign wealth funds are expected to invest more.
• Strengthens financial markets: A smoother yield curve and deeper G-Sec market will improve India’s debt profile.
• Global competitiveness: Simplified rules and tax exemptions make India comparable to leading financial hubs.

At a Glance

Reform	Old Rule	New Rule	Impact
Equity investment by PROIs	5% per company, 10% overall	10% per company, 24% overall	Wider foreign investor base
G-Sec access	Limited tenors, restrictions	15-, 30-, 40-year G-Secs + Green Bonds	Long-term capital inflows
Tax on G-Secs	Taxable interest & gains	Exempt from April 1, 2026	Attracts global investors

Implications for the Masses

• Indian companies: May see more foreign investment, boosting stock prices and liquidity.
• Government borrowing costs: Could reduce as more investors buy long-term bonds.
• Ordinary citizens: Benefit indirectly through stronger markets, more stable rupee, and better access to foreign capital for infrastructure and growth.

Index Futures Trading That Feels Calm And Repeatable

You do not need a thousand tricks to make index futures trading work. You need one routine that travels well across sessions, clean ticket math in cash, and a habit of reviewing the same numbers every week.

The goal is the same whether you trade s&p 500 futures or run nasdaq futures online during your best hours. Keep risk visible, keep costs honest, and let your process be boring on purpose.

The big picture in one minute

• Index futures are standardized contracts that track broad equity baskets.
• They trade nearly around the clock, give tidy exposure with margin, and make it easy to scale size up or down through micro contracts.
• Think in cash risk per trade, not in contract count.
• Work in set windows, not all day.
• Track slippage and commissions like a chef tracks cost of ingredients.

“Consistency is a skill, not a mood.”

Contracts you will actually use

Index lane	Standard contract	Micro contract	Tick size and value	Notes
S&P 500	E-mini ES	Micro MES	0.25 points per tick; ES tick value 12.50 USD, MES 1.25 USD	Great for trend and first-hour structure
Nasdaq 100	E-mini NQ	Micro MNQ	0.25 points per tick; NQ tick value 5.00 USD, MNQ 0.50 USD	Faster tempo, respect volatility
Russell 2000	E-mini RTY	Micro M2K	0.10 points per tick; RTY tick 5.00 USD, M2K 0.50 USD	Small caps add personality to opens

Session rhythm that shapes your plan

Window	Why it matters	What it feels like
Pre market to cash open	Price discovery and gap alignment	Quick tests of overnight levels, clean range boxes
First hour of cash	Most decisive moves of the day	Range break and retest, trend from open
Midday	Rotation more than trend	Fades and VWAP plays, smaller size
Last hour	Positioning into close	Reversion or continuation with volume return

“Trade your window, not the whole day.”

Ticket math in plain cash

• Pick a fixed cash amount you can lose without stress.
• Let the platform translate it into size.

Example for ES or MES

• Risk unit: 50 dollars
• Stop distance: 4 ticks on MES (1 point)
• Tick value: 1.25 dollars for MES
• Risk per contract: 4 × 1.25 = 5 dollars
• Position size: 50 ÷ 5 = 10 MES contracts

“You cannot control the market. You can always control position size.”

Cost lines that decide more than you think

Cost or friction	Where it shows up	Practical way to manage
Commission per side	Every fill	Size for your average ticket, not your best day
Exchange and clearing	Monthly or per contract	Subscribe to only what you use, review monthly
Data feeds	Market depth and quotes	Buy the depth you actually need
Slippage	Opens and news minutes	Use limits on breaks, prefer retests
Platform fees	Terminals or routing	Ensure they fit the benefit, not nostalgia

Three entry frameworks that travel well

• Range break and retest: Box the open’s range. When the price closes outside, wait for a retest. Enter on the first sign of continuation. Works well to trade s&p 500 futures on trend days.
• Pullback into value: Identify a directional push with higher lows or lower highs. Mark a prior value area or VWAP band. Enter on the first pullback that shows slowing momentum. This helps on Nasdaq futures online when the tape accelerates.
• Quiet-session fade: During calmer periods, when price stretches into a well tested band, fade back toward value with small size and firm stops. Use smaller targets and protect gains quickly.

“If the entry needs a paragraph to justify it, it is not ready.”

A simple routine for fast and calm days

• Before your window:
  • Mark yesterday’s high and low plus overnight extremes.
  • Note two catalysts with local times.
  • Write your cash risk per trade and per-day stop on a sticky note.
• During:
  • Two attempts per idea, then stand down.
  • Brackets place stops and targets with the entry.
  • Screenshot before and after, one line reason in, one line reason out.
• After:
  • Tag the trade type, session, and outcome in R.
  • Log total costs and any slippage.
  • Close the platform at your planned time.

S&P vs Nasdaq personality, side by side

Trait	S&P 500 futures	Nasdaq 100 futures
Typical speed	Smoother, more rotational	Faster, more explosive
Opening structure	Clean range boxes and retests	Wider first move, momentum pushes
Best fit setups	Range retests, pullback entries	Breaks with quick retests, trend follow
Risk management	Slightly wider stops acceptable

Business-Friendly Framing - SEBI’s Unified Penalty Structure Aims to Simplify Compliance for Stockbrokers

Stockbrokers have membership in multiple exchanges, and each exchange follows its own framework for taking penal actions for the violations / non-compliances identified by them. Differential penalty structure across exchanges has often resulted in inconsistencies, regulatory arbitrage for stockbrokers.

In order to enhance ease of doing business / compliance, transparency and to standardize penalty structure, Securities and Exchange Board of India (SEBI) constituted a Working Group with the mandate to review, harmonize, and streamline the penalty framework applicable across all stock exchanges. The Working Group was constituted keeping in mind a balanced stakeholders representation comprising of members from all recognized stock exchanges and stockbroker associations viz. ANMI, BBF & CPAI.

Accordingly, the Working Group proposed a penalty structure for SEBI’s consideration. SEBI, after reviewing the proposal, provided the penalty structure to be adopted by all stock exchanges. Procedural lapses may not be viewed and measured through the same regulatory lens as that of material violation / non-compliance, and accordingly financial penalties arising out of some of the erstwhile procedural violations / non-compliances have been classified as ‘financial disincentive’.

This unified framework is expected to promote ease of doing business / compliance for stockbrokers.

TCS Bleeds ₹5.66 Lakh Crore in Market Value: Worst Crash Since 2008

Tata Consultancy Services (TCS), the crown jewel of the Tata Group and India’s largest IT services firm, is enduring its steepest market decline since the 2008 global financial crisis. In a year marked by economic headwinds, geopolitical uncertainty, and structural shifts in the tech industry, TCS has shed nearly ₹5.66 lakh crore in market capitalization — a staggering 34% drop from its August 2024 peak of ₹4,585.90 per share.

As of August 2025, the stock trades at ₹3,019.70, slashing its market cap to ₹10.93 lakh crore from a high of ₹16.59 lakh crore. This 26% year-to-date decline makes 2025 the worst-performing year for TCS in nearly two decades.

Historic Decline in Market Value

The impact has rippled across institutional portfolios. Life Insurance Corporation of India (LIC), which holds a 4.86% stake in TCS, has seen its holdings shrink by over ₹27,000 crore.

Metric	Value
Peak Share Price (Aug 2024)	₹4,585.90
Current Share Price (Aug 2025)	₹3,019.70
Drop from Peak	-34%
Market Cap Lost	₹5.66 lakh crore
Current Market Cap	₹10.93 lakh crore
Peak Market Cap	₹16.59 lakh crore

Catalysts Behind the Crash

• Weak Q1 FY26 Earnings: Revenue rose just 1.3% YoY to ₹63,437 crore; net profit up 5.9% to ₹12,760 crore — both below expectations.
• Global Headwinds: U.S. tariffs under Trump 2.0 have dampened client spending in key markets like the U.S. and Europe.
• Workforce Layoffs: TCS is cutting 2% of its global workforce (~12,000 jobs), signaling a shift toward AI-led delivery models.
• Technical Breakdown: Analysts warn of no bullish reversal signs; next support zone is ₹2,682.

2025 Performance Snapshot

Month	Closing Price	Monthly Change
Jan	₹4,112.39	—
Feb	₹3,483.25	-15.3%
Mar	₹3,606.15	+3.5%
Apr	₹3,453.70	-4.3%
May	₹3,463.40	+0.2%
Jun	₹3,462.00	-0.1%
Jul	₹3,036.80	-12.3%
Aug	₹3,036.40	-0.1%

YTD Decline (2025): -26%
TCS’s downturn is not just a company-specific event — it reflects broader challenges facing India’s $250 billion IT services industry. The shift toward automation, AI-led delivery, and geopolitical realignments are forcing legacy players to rethink their operating models. While Infosys and Wipro have also seen declines, TCS’s sheer size makes its fall particularly symbolic.

Despite the turbulence, TCS remains a formidable force with deep client relationships, strong cash reserves, and ongoing investments in AI, cloud, and cybersecurity. The company’s recent expansion in Mexico — its eighth center in the country — signals a strategic pivot to diversify delivery hubs and tap into Latin American talent.

Artha Bharat Launches Artha Global Multiplier Fund for NRIs to Invest in U.S. Stock Market

Artha Bharat Investment Managers IFSC LLP, a premier alternative investment firm backed by renowned fund managers Sachin Sawrikar and Nachiketa Sawrikar, has launched the Artha Global Multiplier Fund — a long/short hedge fund designed to help NRIs (Non-Resident Indians), OCIs (Overseas Citizens of India), PIOs (Persons of Indian Origin) and Foreign investors gain strategic exposure to the high-growth U.S. equity markets.

“The U.S. stock market represents nearly 74% of the MSCI World Index and has consistently outperformed Indian markets over long investment cycles,” said Sachin Sawrikar, Managing Partner at Artha Bharat Investment Managers IFSC LLP. “This fund empowers global Indians to invest in the world’s largest and most dynamic equity market — the United States — through a diversified, professionally managed strategy.”

The Artha Global Multiplier Fund is a hedge fund for NRIs that invests in liquid U.S. equities, event-driven strategies, and derivatives. It focuses on six major U.S. market themes:

• Technology and Retail
• Consumer Staples & Discretionary
• Artificial Intelligence (AI) & Innovation
• Financial Services Healthcare & Biotechnology
• Renewable and Clean Energy

“Consumer spending drives 70% of the U.S. GDP, making it a resilient and lucrative segment. This fund will actively target companies benefiting from strong consumer trends,” added Sachin Sawrikar.

Nachiketa Sawrikar, the fund’s manager, brings over 24 years of global finance experience, including leadership roles in U.S.-based firms and Indian fund houses. An IIM Ahmedabad MBA, Osmania University engineer, and CFA charterholder, he has deep expertise in U.S. markets.

“The Artha Global Multiplier Fund aims to generate absolute returns regardless of market direction by leveraging opportunities in equity stocks, index futures, and CBOE Volatility Index (VIX) futures,” said Nachiketa. “We use derivatives not only to amplify gains but also to limit downside risk.”

With leverage ranging from 50% to 150%, the fund is structured for sophisticated investors, not retail participants. Artha Bharat has back-tested its strategy to ensure robust performance and capital protection.

Artha Global Multiplier Fund is positioned as a smart, diversified investment solution for Indians abroad seeking access to U.S. stock market growth, with institutional-grade risk management and sectoral insights.

The scheme will be subject to a 2% management fee and 20% share of investment management company on returns above the 10% hurdle internal rate of return.