FPIs sold stocks for Rs 20,620 crore in August
In the cash market, FPIs were sellers after three months of sustained buying. In August, FPIs sold stocks for Rs 20,620 crores in the cash market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In the cash market, FPIs were sellers after three months of sustained buying. In August, FPIs sold stocks for Rs 20,620 crores in the cash market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
FPIs invested Rs 12,262 crore in August. This figure includes bulk deals and investment through the primary market.
Rising bond yields in the US and strong dollar index are negative for capital flows. This is the primary reason why FPIs have been sellers in the cash market, he said.
FPIs have been sellers in most emerging markets in August mainly due to this double whammy of rising dollar and rising bond yields. Profit booking in financials also contributed to FPI selling, he added.
Regarding sector specific investments, FPIs have been consistently buying in capital goods. Recently, they have been buyers in health care, too. The latest jobs report from the U.S. indicates that the US economy is slowing and, therefore, the Fed might not raise rates again. This can bring down the US bond yields and the dollar index.
If this scenario unfolds, FPIs may again turn buyers in India, he added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 10 PSU Stocks in 1 Year: Rs 1 lakh investment in top stock has given Rs 5.55 lakh post-tax returns
Gold and Silver rate today (May 23, 2024): Precious metal futures trade under pressure, yellow met below Rs 72,650, white metal near Rs 91,200
Railway Stocks to Buy: These 2 Railway PSU stocks are ready to gather steam, know expert target prices and stop losses
Gold and Silver rate today (May 21, 2024): Precious metal futures trade lower; yellow metal futures below Rs 73,750, white metal futures slips over 1%
PSU multibaggers Cochin Shipyard Ltd and Mazagon Dock hit all-time high, rise over 630% and 299% in 1 year
SIP Investment, 15x20x12 Formula: How investing Rs 20K monthly can build a corpus of Rs 1 crore in 15 yrs | Know Calculation
01:02 PM IST