SELLING

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New Delhi: In August, FPIs sold stocks to the tune of Rs 7,543 crore, V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. After three months of sustained buying with cumulative investment of Rs 1,37,603 crore, FPIs have turned sellers in India. Strength in the dollar index and the US 10-year bond yield remaining well above 4 per cent is a short-term negative for FPI flows to emerging markets like India, he said. FPIs continue to be buyers in financials, capital goods and financials and also in IT selectively. A significant trend in the market is that FPI selling is countered by strong DII buying, he added. In view of the strong dollar and high US bond yields FPIs may continue to sell in India, he added. Also, since the markets have rallied smartly during the last three months, some profit booking by FPIs would be rational and can be expected. Despite the outflow of FPI in July, sustainability of the stock market also indicates the strength of domestic investors and their maturity, says Kislay Upadhyay, smallcase manager and Founder of FidelFolio Investments. On the mutual funds data by AMFI, he said that net equity inflows have maintained their positive trajectory throughout the fiscal year 2024. Nevertheless, there has been a month-on-month reduction in net equity inflows, declining from Rs 8,637 crore to Rs 7,626 crore, reflecting a 12 per cent drop.

FPIs sold stocks to the tune of Rs 7,543 cr in Aug

In August, FPIs sold stocks to the tune...

Domestic institutions turn major sellers in last two sessions

Domestic institutions turn major sellers in last two sessions

Domestic institutional investors (DIIs) have emerged as major...

Delhi: DCGI sends notice to e-pharmacies for selling drugs without licence

The Drugs Controller General of India (DCGI) has...

Gadag: Farmer gets Rs 8.36 for selling 205 kg onions, receipt goes viral

The receipt of a farmer from the district...

Ballari: Selling of substandard pesticides, farmers protest

Recently, a large number of farmers in Kurugodu...

Mangaluru: Man duped of Rs 10 lakh in City

Miscreants duped a man of Rs 10 lakh...

UP jail officials booked for murder of inmate

3 arrested in UP for making, selling spurious liquor

The Police also recovered 15 litres of spurious...

State banks expected to source capital to be competitive

USD reaches over 300 against SL rupee for first time

Sri Lankan banks on Tuesday said the US...