16-06-2024 09:22 AM | Source: Geojit Financial Services Ltd
After the roller coaster ride in the market in the first week of June, stability has returned to the market as indicated by the sharp fall in India VIX from 27 on June 4th to 12.82 on 14th June. This fall in India VIX indicates the return of stability and a likely consolidation phase in the market.
The resilience of the market and eagerness of retail investors to buy every dip in the market will force FPIs to reduce their selling which was sustained in May. However, if the market continues to rally from here, FPIs may again turn sellers in India and buyers in other markets like Hong Kong which are very cheap compared to India."
Quote on FPI : FPIs bought equity for Rs 6521 crores on June 3rd in response to exit polls say Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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Below the Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
"The first week of June witnessed massive volatility in FPI flows in response to exit polls and the actual election results. FPIs bought equity for Rs 6521 crores on June 3rd in response to exit polls. But when the actual results fell far short of what the exit polls indicated, the market crashed on June 4th and FPIs, too, panicked and sold stocks for Rs 12259 crores. NSDL data shows net FPI sell figure at Rs 3063 crores through 14th June.
After the roller coaster ride in the market in the first week of June, stability has returned to the market as indicated by the sharp fall in India VIX from 27 on June 4th to 12.82 on 14th June. This fall in India VIX indicates the return of stability and a likely consolidation phase in the market.
The resilience of the market and eagerness of retail investors to buy every dip in the market will force FPIs to reduce their selling which was sustained in May. However, if the market continues to rally from here, FPIs may again turn sellers in India and buyers in other markets like Hong Kong which are very cheap compared to India."
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