FPIs continue investing spree, infuse ₹4,773 crore in first week of January; Details here

livemint.com:

₹4,773 crore into Indian equities, as reported by NSDL data. In December, the domestic equity markets experienced a surge fueled by substantial inflows from foreign portfolio investors (FPIs), who infused an impressive ₹66,134 crore during the month. The Nifty concluded the preceding month with a nearly 8% increase.

Also read: Market ahead: Q3 results, Red Sea crisis, inflation, FII activity among key market triggers to watch next week "The sharp up move in the market in December coincided with the surge in FPI inflows during the month which stood at ₹58372 crores. Including the investment through the primary market and others, the December FPI inflows stood at ₹66134 crores. The last two months of 2023 has witnessed big investment by FPIs thanks to the sharp decline in US bond yields and declining dollar.

FPI inflows which were negative in the 3 months before December have sharply turned positive in December. The total FPI flows for 2023 stood at ₹171106 crores. In December, FPIs were big buyers in financial services and also in IT.

FPIs also bought in sectors like autos, capital goods, oil and gas and telecom," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In December, Foreign Portfolio Investors (FPIs) exhibited significant interest in financial services and information technology sectors. Additionally, they diversified their investments across sectors such as automobiles, capital goods, oil & gas, and telecom, as highlighted by Vijaykumar.