FPIs sold FMCG, auto, financial services stocks the most in second half of March; bought telecom, capital goods shares
₹35,000 crore in Indian equities during the month of March 2024, marking a significant uptick from the investment of ₹1,539 crore in February. This surge follows a substantial outflow of ₹25,744 crore witnessed in January. Looking into the trends in FPI flows last month, data shows overseas investors bought Indian equities worth ₹40,710 crore in the first 15 days of March, while they were net sellers to the tune of ₹5,612 crore in the second half of the month, as per data from National Securities Depository Ltd (NSDL).
Also Read: India VIX: Volatility may rise in the upcoming sessions following a three-month declining trend; here's why Between March 16 and 31, FPI inflows were seen the most in the Telecommunications sector at ₹1,319 crore, after investment worth ₹6,648 in the first half of the month. This was followed by FPI investment of ₹951 crore in the Capital Goods sector and ₹931 crore in Metals & Mining during the second half of March. Chemicals and Realty sectors saw FPI inflows worth ₹868 crore and ₹846 crore, respectively, during the same period.
On the contrary, the fast-moving consumer goods (FMCG) sector saw the highest FPI selling in the second half of March, data showed. FPIs offloaded shares worth ₹4,939 crore in the FMCG sector after buying worth ₹11,180 crore during the first half of the month. FPI outflows in the FMCG sector stood at ₹4,472 crore in February.
The Automobile and Auto Components sector also saw FPI selling worth ₹2,085 crore during March 16 - 31, after inflows worth ₹3,697 crore in the first half of the month. Financial Services witnessed outflows of ₹1,900 crore and Consumer Durables at ₹1,175 crore in the second half of the month. Also Read: Bharti Hexacom share price extends gains
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