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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Fed, FPIs & Budget Watch | Indian Equities The Fed Held, the Foreign Funds Flinched, and Delhi Is Listening: Where Indian Equities Go From Here The Fed held at 3.75%–4.00% on a 10–2 vote. FPIs have sold a record ₹3.07 lakh crore through 23 October. Delhi is reportedly weighing an LTCG cut. And on 27 October, the Nifty Smallcap 100 jumped 2.70% in a single session. Wednesday, 28 October 2026, gave Indian markets a rare thing: a day without a nasty surprise from Washington. The Federal Reserve kept its policy rate unchanged at 3.75%–4.00%. Nifty closed at 22,698.85, down just 0.22%, after Sensex had been down nearly 1,000 points at the intraday low. Then came the numbers that matter more. According to provisional NSE data, FII/FPIs were net buyers on the day. Across NSE, BSE and MSEI combined, they bought a net ₹871.83 crore, against DII net buying of ₹643.35 crore. It is one session, and it f...
AAP’s trigger on AK - 67
~~Fakhri H. Sabuwala
Mumbai, 16 February 2015: "AAP jaisa koi meri zindagi mein aaye’ tau.......bAAP ban jaaye"...ahaa bAAP ban jaaye. Pehle AAP, pehle AAP....... the PM kept on saying and in this Lucknowi, syndrome the BJP missed the bus, whereas the Congress did not even come to the terminus". 

"The results of the Delhi Assembly polls are one of its kind and has rewritten political history. Arvind Kejriwal’s swearing in ceremony as Chief Minister took place  on Valentine's day, 14th February, which incidentally is exactly the day he quit as the CM of Delhi last year.

In the last twelve months, much water has flowed down Jumna bridge. Not only has it witnessed the country's general elections won by the BJP on the plank of development but also the installation of a non-Congress government at the centre after long. This paved the way for the BJP with its regional partners to exploit the plank of development again in state elections. Modi had thus become an epitome of change. The policy paralysis of yester years was given a go by with the promise to do things differently. Narendra Modi’s new mantras to achieve growth like ‘Make in India’, ‘Digital India’ and ‘Swachch Bharat’ caught the imagination of the people and reverberated abroad too during the PM's visits abroad or during the visits of foreign dignitaries to India. While this fetched him ground coverage somewhere down the line it appeared that the PM was getting alienated from the real problems of the masses. 

As the talk became louder with lack of follow-up action, the public became wary of NaMo’s pronouncements quite like the Lok Sabha elections when he was referred as ‘Feku’ while Rahul was called Pappu’.

The BJP government found little support in the legislature forcing it to adopt the ordinance route like its predecessor. All this led to a disdain to the ‘aam aadmi’ who was yet to see any positive change in his life in the nine months since the voluble Narendra Modi took over creating big hopes. It was in the shadow of high pitch sloganeering that Arvind Kejriwal of AAP addressed the electorate and turned the tables on the invincible NaMo and dealt a deadly blow bagging 67 out of the 70 seats with comfortable leads and losing only three only by wafer thin margins.

The results were stunning. While they took away the wind from the sails of NaMo and BJP president, Amit Shah, it left the BJP in such a state of shock that the party leaders could hardly respond. 

The BJP suffered from the same disease that the complacent Congress had developed with its 60-year rule in Delhi. Arvind Kejriwal and the AAP have ushered a new dawn that should help reduce corruption and crony capitalism since they can never be eliminated.

P.N: Mr.Fakhri H Sabuwala is a Masters in Commerce from Mumbai University. He is a Stock Broker, Investment Analyst and associated with BSE since 1982.  He is an ex- lecturer in Commerce and a visiting faculty in various school of management and professional courses.

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