New Delhi [India], December 7 (ANI): Foreign investors have made a strong comeback to Indian equity markets, with a net purchase of over Rs 24,400 crore in the first week of December.
According to data from the National Securities Depository Limited (NSDL), Foreign Portfolio Investors (FPIs) invested Rs 24,453 crore in equities between December 2 and December 6.
The biggest single-day inflow during the week was on Friday, December 6, when FPIs bought equities worth Rs 9,489 crores, marking their highest investment for the week.
This substantial buying spree is a sharp reversal from the selling trend observed in October and November, when foreign investors were net sellers in Indian markets.
“FIIs turning buyers in early December, in total reversal of their sustained selling strategy during the last two months, has altered the market sentiments. In October the total FIIs selling through exchanges was Rs 113858 crores. In November the amount declined to Rs 39315 crores. Including the purchases through the primary market, the total FIIs buying through 6th December stand at Rs 24453 crores (Source NSDL). This is a clear change in FII strategy in India. It can be argued that the stage of relentless FII selling is over” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The robust inflows by FPIs suggest renewed confidence in India’s economic and market outlook. The December rally highlights the growing attractiveness of Indian equities among global investors as the year comes to a close.
Foreign Portfolio Investors (FPIs) sold equities worth Rs 21,612 crore in November, marking a significant decline in selling compared to Rs 94,017 crore in October, according to the data by the National Securities Depository Limited (NSDL).
In June, July, August, and September, the FPIs bought stocks worth Rs 26,565 crore, Rs 32,365 crore, Rs 7,320 crore, and Rs 57,724 crore, respectively. As per definition, Foreign Portfolio Investment (FPI) involves an investor buying foreign financial assets.
Recently after the US elections the Foreign investors become seller in Indian markets amid the strengthening of dollar and the surge in flows to the US markets. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
