Foreign bond investors (FPIs) broke their buying streak in January and became massive sellers in Indian markets, driven by global cues. However, FPIs started 2024 on a positive note as investments saw a sharp rise in December 2023 after FPIs reversed their three-month selling streak in November 2023.
FPIs sold off ₹24,734 crore of Indian shares and the total outflow stands ₹9,663 crore as on January 25, taking into account debt, hybrid, debt-VRR and equities, according to National Securities Depository Ltd (NSDL) data.
“FPIs continued to be sellers in the cash market having sold equity ₹27664 crore till 25th January. FPIs were sellers in automobiles and auto accessories, media and entertainment and marginally in IT. They bought in oil and gas, power and selectively in financial services,” said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 27 Jan 2024, 17:23 IST