FPIs offload ₹9,784 crore in Indian equities, extend selling streak into October; Will they miss a potential rally?
₹9,784 crore worth of Indian equities and offloaded a total of ₹5,867 crore as of October 13, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL ) data. The ₹9,784 crore-figure also includes bulk deals and investment in primary market. According to NSDL data, FPIs sold equity for ₹13,652 crore through the stock exchanges till Friday.
‘’They invested ₹3,868 crore through the primary market and others during the same period taking the net sell figure to ₹9,784 crore. The sustained rise in US bond yields was the principal factor driving the FPI selling,'' said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Also Read: FIIs take U-turn on easing US bond yields; DIIs sell over ₹100 crore as Nifty 50 pares gains Foreign institutional investors (FIIs) continued their selling streak in the second week of October after recording a massive outflow from Indian markets last month over global cues. Even though FIIs were net sellers last month, but domestic institutional investors (DIIs) infused a total of ₹19,310 crore in September, that closely countered FII selling and imparted resilience in markets. Regarding sector specific investments, analysts observed that FPIs continued to sell in financials, power and IT and continued to buy in capital goods and automobiles so far this month.
FIIs sold ₹25,000 crore in cash markets in September, according to analysts. The US Treasury yields hit a 16-year high mark and crude oil prices almost touched $98 per barrel in the last week of September amid concerns over interest rates staying high for an extended period and its impact on the global economy. FPIs turned net sellers last month because strength
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