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Objective: There is complete absence of sexual maturity data on patients afflicted with juvenile dermatomyositis (JDMS) from the Indian subcontinent. Hence, this study aimed to unfold the effect of this disease on the sexual development of JDMS children. Methods: In the Growth Laboratory/Clinic of the Department of Pediatrics, 60 (25 male and 35 female) sexual maturity-related observations were made on 35 JDMS patients, aged 10–17 years, enrolled from the Pediatric Rheumatology Clinic. Breast development stage and age of onset of menarche were recorded among female patients. In male patients, besides, determining the genitalia development stage, measurement of stretched penile length and testicular volume was done. Appearance of pubic and axillary hair among JDMS patients of both sexes was recorded. Results: Most girls with JDMS (34.28%) were in breast development stage-B2 (mean age 10.91 ± 1.08 years) and 22.86% had attained menarche. However, breast stage B5 was attained at 14.62 ± 1.06 years. JDMS girls reached stage B2 at the same age as their normal healthy counterparts. Onset of menarche was delayed by almost a year in JDMS girls. Age of attainment of genitalia stage G2 in JDMS boys (12 years) was delayed by 6 months as compared to well-off Chandigarh boys (11.5 years), whereas it was advanced by 1.5 years when contrasted with affluent Indian counterparts (13.3 years). Conclusion: Comparable pubertal attainments in JDMS males and somewhat delayed start of menarche in female JDMS patients as compared to their normal counterparts show that disease activity has a smaller effect on the sexual development of JDMS patients from north-western India. [ABSTRACT FROM AUTHOR]

Purpose: The study seeks to examine the foreign portfolio investment in equity, debt, and derivatives, during the 21-year period, from January 2000 to December 2020, in order to ascertain whether an increase in the FPI flows into equity and debt leads to an increase in the stock market (the Nifty) realized volatility, and an increase in the FPI flows into derivatives leads to an increase in the stock market (the India VIX) implied volatility. Research Methodology: The dataset comprised the Nifty and the India VIX daily prices, the monthly net FPI flows into equity, debt, debt VRR, hybrid securities, and derivatives. The FPI net flow-Nifty realised volatility/India VIX relationship was examined through linear regression, first by using their contemporaneous monthly values, and then on the volatility scale by dividing the dataset into volatility percentile buckets. Findings: The study has revealed a strong negative relationship (R2 of 61.1%) between the FPI net flows into equity, debt and hybrid securities and the Nifty volatility. This suggests that higher FPI flows into equity, debt, debt VRR or hybrids actually lower the Nifty volatility and do not increase it as is popularly perceived. The negative relationship has been stronger in the case of equity (R2 of 63.3%) as compared to the debt (R2 of 48.7%). The relationship between the India VIX and the FPI monthly open interest is significant and negative (R2 of 15%) for all the derivative types, with the exception of stock futures, which has a positive slope (R2 of 18.5%). The inverse relationship has been the strongest in the case of index options (R2 of 65.7%), index futures (R2 of 63.6%) and interest rate futures (R2 of 61.4%). The stock options too have a negative linear relationship with the India VIX (R2 of 15.4%). Policy Implications: A strong negative relationship between the FPI net flows into equity, debt and derivatives, and market volatility means that higher foreign capital flows should not be perceived as destabilising. The government can continue to take steps to welcome foreign investors. The foreign portfolio investment is critical to the growth of the Indian capital market and the economy. India is yet to be accorded its rightful place (corresponding to its GDP size) in global investment barometers, like the MSCI Emerging Markets Index. The insights provided by the study will encourage the Indian policy-makers, the Central bank and the market regulator to further spur foreign portfolio investment without fear. Limitations: The study is comprehensive in terms of the time-period and the FPI investment types. It employs simple and intuitive empirical methods. Further studies can be done on the determinants, impact and lasting benefits of the FPI flows into India at the firm and the country levels. Originality/Value: The study spans almost the entire period of time since the FII/FPI flows became significant after the economic liberalisation measures of the 1990s. The potential impact of up-to-date policy changes has, therefore, been accounted for. The study includes the complete range of FPI investment product categories, viz., equity, debt, debt VRR, hybrids, futures, and options. While the relationship between the FPI investment in debt and equity and the market volatility has been examined by considering the monthly volatility of the Nifty returns, the relationship between investment in derivatives has been examined in relationship to the NSE India VIX implied volatility index. Such an approach is a more accurate reflection of the relationship of the FPI open interest in derivatives and the Nifty-implied volatility. In addition, these relationships have been examined both along the volatility scale as well as the usual time scale. This is important because the FPIs' investment decisions, especially related to equity and derivatives (since debt and debt VRR investment are not so 'liquid') are driven by their perception of risk rather than longevity. [ABSTRACT FROM AUTHOR]

Purpose: The study examines the performance of the NSE India VIX (NVIX) in terms of its relationship with the Nifty realized volatility during the period of November 2019 to October 2020, a period of high volatility during which the COVID-19 pandemic unfolded. The study specifically examines if the NVIX contains a volatility premium over and above the Nifty realized volatility, and, whether a linear/near-linear relationship exists between the NVIX implied volatility and the Nifty realized volatility. Design/methodology/approach: The dataset comprises the Nifty and the NVIX daily prices. The NVIX Nifty realized volatility relationship is examined through linear regression, first by using their daily values and then, for a more nuanced insight, by dividing the volatility dataset into percentile buckets. Findings: The study finds that the NVIX generally contains a volatility premium, but not during the extremely high volatility, i.e., annualised volatility of more than 32%. Also, a strong linear relationship exists between the NVIX and the Nifty realized volatility. The NVIX performs well during high market volatility. Practical Implications: A strong linear relationship between the NVIX and the Nifty volatility, even during high volatility, indicates that the NVIX can potentially be used as a reliable predictor of the future market volatility under different volatility conditions. Such a possibility holds immense potential for investors and the stock exchange administrations alike. Limitations and Further Research: This study takes a look at a very specific phenomenon related to the performance of the NVIX during a high volatility regime. Further studies can examine the performance of the NVIX over a larger number of high volatility periods and generate deeper insights towards building of a general forecasting model for the NSE market volatility based on the NVIX implied volatility. Originality/Value: The study spans a very recent period (2019-2020) and utilizes a simple and intuitive methodology. The findings of the study indicate the possibility of building a general model for forecasting future Nifty volatility based on currently available inputs. Such a model holds immense value for the market participants in their investment decisions related to portfolio hedging based on the NVIX implied volatility. [ABSTRACT FROM AUTHOR]