FPIs offload ₹7,998 crore in Indian equities; extend selling streak on high US bond yields; check details
₹7,998 crore worth of Indian equities and offloaded a total of ₹6,024 crore as of October 6, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. The ₹7,998 crore-figure also includes bulk deals and investment in primary market.
In the first four days of October, FPIs have sold stocks for ₹9,412 crore in the cash market. FPIs have reversed the prior three-month trend of sustained buying and emerged net sellers in September.
Surging US bond yields have been the major reason for FPI outflows since last month, according to analysts. "The dominant factor impacting capital flows to markets in recent weeks has been the steadily rising US bond yields.
Early days of October witnessed a rout in the US bond market which took the 30-year bond yield to 5 per cent briefly. The benchmark 10-year yield is consistently over 4.7 per cent forcing the FPIs to sell in emerging markets,'' 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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