Foreign portfolio investors (FPIs) have finally reversed their selling streak this month, after emerging as net sellers in August, September and October on a sharp spike in US bond yields amid ongoing geopolitical tensions in the Middle East.
FPIs have bought ₹1,433 crore worth of Indian equities and the total inflow stands at ₹15,375 crore as of November 17, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL) data.
FPIs were net buyers till November 15, but reversed the selling trend and invested on November 15 and 16. During August, September October and till November 15, FPIs cumulatively sold stocks for ₹83,422 crore through the exchanges.
‘The resilience of the market and strong up moves on favourable days have forced a rethinking in FPI strategy. That’s why they turned buyers on 15th and 16th of this month after sustained selling in the first two weeks of November,” said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The sharp decline in the US 10-year bond yield to 4.45 per cent has turned out to be an inflection point for the mother market and thereby to the global stock markets, according to analysts. Before August, FPIs sustained buying in Indian equities for three months.
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Updated: 18 Nov 2023, 05:14 PM IST
