FPIs net buyers in November; invest Rs 5,319 crore in Indian capital markets
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 5,319 crore in Indian capital markets despite a massive correction seen in equities over the last fortnight.
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 5,319 crore in Indian capital markets despite a massive correction seen in equities over the last fortnight.
In October, they were net sellers to the tune of Rs 12,437 crore.
As per depositories data, overseas investors put in a net Rs 1,400 crore into equities and Rs 3,919 crore into the debt segment between November 1-26.
This translated into total net investment of Rs 5,319 crore.
See Zee Business Live TV Streaming Below:
"Since FPIs have been holding large quantity of banking stocks, they have been major sellers in this segment. Sustained selling has made banking stocks attractive from the valuation perspective," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
He further noted that sharp correction in the market on 26th November has been mainly triggered by concerns arising out of the new strain of the virus spotted in South Africa, Botswana and Hong Kong.
"Despite recent correction, the markets continue to be at elevated levels and hence FPIs would have booked profits," said Himanshu Srivastava, Associate Director - Manager Research, Morningstar India.
Trend reversal on a weekly basis has become a norm with respect to FPI flows in the Indian debt markets, he added.
FPIs would be closely watching the spread of the new coronavirus variant and its possible impact on the growth globally.
Higher valuation is also a concern which may continue to trigger profit booking at regular intervals, he said.
"Future of FPI flows is expected to remain volatile given key events such as upcoming state elections, expectation of rise in interest rates and concerns a new Covid variant will prompt fresh mobility restrictions, hindering economic recovery," said Shrikant Chouhan, Head - Equity Research (Retail), Kotak Securities.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
04:04 PM IST