INDIA'S HNI CLUB TO SWELL 3 TIMES IN 10 YEARS

India and China are together projected to treble the number of high net worth individuals (HNIs) from 4.48 lakh in 2008 in the next one decade, as per a report collated by Merrill Lynch Wealth Management and Capgemini, which pegged the number of Indian HNIs at 84,000 for the past year. After seeing a 22.7% growth in the population of HNI in 2007 to 1.23 lakh - the highest percentage jump in the world - India saw a 31.6% drop in the number of HNIs past year. India happened to witness the second-biggest drop in the population of the rich, as defined by the survey, behind Hong Kong, which recorded a 60% drop in HNIs in 2008.

The survey defined HNIs as those with investable assets of at least $1 million (Rs 5 crore), excluding their primary residence and consumables. With the Indian economy showing clear signs of revival and the stock market bouncing back, the number of HNIs in the country is expected to bounce back soon.

The Economic Times

FIIs BETTING ON INDIA AS AN OIL HEDGE

Some foreign institutional investors, or FIIs, the largest investor class in the Indian market, could start reallocating capital here as they bet on further meltdown in crude oil prices, even as several equity strategists at large global brokerages appear to be reaching a consensus on the merits of such bets.

MINT

Stocks to watch

Equities are seen opening higher Wednesday tracking advances in Asian markets. But volatility cannot be ruled ahead of the derivatives contract expiry for the February series.

The Economic Times
http://economictimes.indiatimes.com/articleshow/2818213.cms