Quote on FPI : In view of the strong dollar and high US bond yields FPIs may continue to sell in India says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"After three months of sustained buying with cumulative investment of Rs 137603 crores, FPIs have turned sellers in India. In August through 11th FPIs have sold stocks to the tune of Rs 7543 crores. Strength in the dollar index and the US 10- year bond yield remaining well above 4 % is a short-term negative for FPI flows to emerging markets like India.
FPIs continue to be buyers in financials, capital goods and financials and also in IT selectively. A significant trend in the market is that FPI selling is countered by strong DII buying.
In view of the strong dollar and high US bond yields FPIs may continue to sell in India. Also, since the markets have rallied smartly during the last three months, some profit booking by FPIs would be rational and can be expected."
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