Quote on FPI investments by Dr. VK Vijayakumar, Geojit Financial Services
Below is the Quote on FPI investments from Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"FPIs have turned sellers in the Indian equity market in October. According to depository data, FPIs have sold equity worth Rs 2331 cr upto 22nd October. This is not yet a trend reversal, but there are signs of sustained selling to come. FPIs have sold software stocks worth Rs 5406 cr in the 1st half of October even though the Q2 results of software companies were good. So, this is a clear case of profit booking. FPIs have been buyers in financial services. In debt also FPIs were sellers in October. Selling in debt is to the tune of Rs 2324 till 22nd. Broadly FPI data indicates that FPIs are likely to be cautious sellers in the market, going forward, unless the market turns resilient again"
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