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Foreign portfolio investors (FPIs) were net buyers in the Indian stock market this year with a sharp uptick in December after having reversed their three-month selling streak in November. The inflow intensified on strong global cues after the US Federal Reserve signalled the end of its tightening cycle and raised expectations of a rate cut in March 2024. This led to a crash in US bond yields and triggered foreign fund inflows into emerging markets like India.
FPI activity in Indian markets
FPIs were net sellers in August, September and October on a sharp spike in US bond yields amid ongoing geopolitical tensions in the Middle East. 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.
FPI inflows into Indian equities during November stood at ₹9,001 crore, compared to over ₹39,000 crore worth of shares sold in September and October together, according to NSDL data. Taking into account debt, hybrid, debt-VRR, and equities, FPI inflows were at ₹24,546 crore during the month.
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Published: 30 Dec 2023, 05:53 PM IST
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