FIIs sell ₹25,000 crore in Sept on high US bond yields, crude oil prices; What's expected in Oct?
₹2,751.49 crore in Indian stocks today. FIIs have sold ₹25,000 crore in cash markets so far this month, according to analysts. The US Treasury yields hit a 16-year high mark and crude oil prices almost touched $98 per barrel this week amid concerns over interest rates staying high for an extended period and its impact on the global economy.
This has largely supported the FII selling streak since August. As per the NSE data, FIIs cumulatively bought ₹10,058.35 crore of Indian equities, while they sold ₹11,744.05 crore --- resulting in an outflow of ₹1,685.70 crore on Friday. Meanwhile, DIIs infused ₹8,788.50 crore and offloaded ₹6,037.01 crore, registering an inflow of ₹2,751.49 crore.
‘’Sustained FII selling may continue to weigh on markets. FII selling of ₹25,000 crores this month has pulled down the banking stocks making their valuations attractive. The Q2 results of the banking segment will be good and the market can respond positively to this.
This is a safe bet now,'' said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. THIS COPY IS BEING UPDATED"Exciting news! Mint is now on WhatsApp Channels
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