FPIs reverse selling trend ; invest ₹378 crore in equities in November
The Hindu
FPIs net invest ₹378cr in Indian equities Nov, reversing Oct outflow. Cumulative FPI flows for 2023 remain healthy at ₹96,340cr. Improving risk appetite in EM & falling US yields draw FPI flows. Sectors like banking, capital goods & consumption likely to attract flows.
Foreign Portfolio Investors (FPIs) have pared their bearish stance on Indian equities during November as they made a net investment of ₹378 crore on the sharp decline in U.S. treasury bond yields.
This came after FPIs dumped Indian equities worth ₹24,548 crore in October and ₹14,767 crore in September, data with the depositories showed.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in ₹1.74 lakh crore during the period.
Overall, the cumulative trend for 2023 remains healthy, with FPIs pouring in ₹96,340 crore so far this calendar year.
"On the way ahead, we think that improving risk appetite in the EM (emerging markets) and falling risk-free yields in the U.S. will draw FPI flows towards India," Hitesh Jain, Strategist, Institutional Equities Research at YES Securities India, said.
According to the data, FPIs made a net investment of ₹378.2 crore in Indian equities this month (till November 24).
Notably, foreign investors were buyers on four days this month with a big buying of ₹2,625 crore on Friday.
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