FPIs sold Oil & Gas, Construction, IT sector stocks the most; highest inflows seen in realty stocks

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₹34,000 crore in April and May, overseas investors bought Indian equities worth more than ₹12,000 crore this month so far.However, for the first fortnight of June, FPIs remained net sellers in domestic markets, as their total outflows stood at ₹3,064 crore. In precise, between June 1 and 15, FPIs were sellers to the tune of ₹12,519 crore across 11 sectors, while they infused funds worth ₹9,455 crore in 12 sectors, data from National Securities Depository Ltd (NSDL) showed.Sunil Damania, Chief Investment Officer, MojoPMS believes FPIs have altered their position in the equity market following the election results.

According to him, there are three primary reasons for this positive inflow.Read here: FPIs snap 2-month selling streak, invest ₹12,170 crore in Indian equities; 3 key reasons behind inflows“First, the continuity of the government assures ongoing reforms. Second, the Chinese economy is decelerating, as evidenced by a 12% decline in copper prices over the past month.

Third, certain block deals in the market have been eagerly taken up by FPIs. However, these FPI inflows are concentrated in a select few stocks rather than being widespread across the market or sectors," Damania saidHe believes that FPI inflows will remain constrained due to the high valuations currently commanded by the Indian equity market.Meanwhile, the highest FPI outflows was witnessed in the Oil, Gas & Consumable Fuels sector worth ₹3,683 crore during June 1-15.