FPI sold shares worth Rs 10,921 crore in August
New Delhi (IANS). FPIs started selling shares in August after three months of continuous buying with a total investment of around Rs 1,37,603 crore. Chief Investment Strategist, Geojit Financial Services V.K. Vijayakumar has said this.
Consolidated NSDL data shows that FPI investments stood at Rs 8,993 crore till August 18. But this figure includes wholesale deals and investments through the primary market. Vijayakumar said, in the cash market, FPIs sold shares worth Rs 10,921 crore and they sold shares on 10 days so far in the month of August and bought only on three days.
He said the strength of the dollar index above 103 and the US 10-year bond yield hovering around 4.25 per cent has made FPI inflows negative in emerging markets like India.
FPIs have remained consistent buyers in capital goods and power and recently, they have started selling in financials.
He said that FPI selling is being matched by DII buying, but it is not enough to arrest the fall in the market.
FPI selling is likely to continue in the near term, given the strong dollar and rising US bond yields.
