FPIs continue January's selling streak, offload ₹3,075 crore in Indian equities; buy ₹15,094 crore in debt markets

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₹3,075 crore worth of Indian equities and the total inflow stands at ₹12,590 crore as of February 9, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL) data. "The FPI investment trend of selling in equity and buying in debt witnessed in January is continuing in February. Through February 9, FPIs had sold equity for ₹3,074 crore and bought debt worth ₹15,093 crore.

This takes the total equity selling in 2024, so far, to ₹28,818 crore and debt buying to ₹34,930 crore,'' said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Also Read: FPIs turn net sellers in January, offload ₹24,734 crore in Indian equities: Why did they snap buying streak? Foreign institutional investors (FIIs) were buyers for three out of five sessions last week with a total divestment of ₹5,871.45 crore, while domestic institutional investors also bought for three sessions with a total investment of ₹5,325.76 crore, according to stock exchange data.

FPIs snapped their buying streak in early January over global cues as the US bond yields rose from 3.9 per cent to 4.18 per cent, triggering capital outflows from emerging markets such as India, according to market experts. ‘’In the last fortnight of January, FPIs were massive sellers in financials with a sell figure of ₹31,261 crore. This explains the underperformance of Bank Nifty in general and some leading private sector banks in particular.

For long-term investors, there is value in banking stocks now,'' said Dr. V K Vijayakumar ‘’FPIs were buyers in IT and telecom, which explains the resilience of the leading players in these segments. A reversal of the FPI selling in equity will happen when the US bond yields