May 25, 2024

Business

FPIs big sellers in financials and FMCG in February

IANS/Kaumimarg Bureau | March 02, 2024 12:01 PM

New Delhi- In February, FPIs turned buyers in equity for Rs 1539 crores. This is despite the U.S. bond yields ruling high with the 10-year yield at around 4.25 per cent, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

FPIs may again turn sellers in some of the coming days but are unlikely to sell aggressively because their selling is not having any impact on the market which is setting new record highs.

FPIs will have to buy the same shares, which they are selling now at higher prices when the situation turns favourable for FPI buying.

Therefore, even if they sell in the coming days, that will be subdued, he said.

DIIs, HNIs and retail investors are calling the shots now, not FPIs. FPIs were big sellers in financials and FMCG in February, he said.

FPIs are steadily increasing their buying in debt. They have bought debt to the tune of Rs 22419 crores in February on top of the Rs 19836 crores they bought in January. This trend of steady debt investment is likely to continue, he said.

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