Quote on FPI : The principal reason for the outperformance is the sustained buying by FPIs Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on FPI 06 May 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
India outperformed most markets in April. The principal reason for the outperformance is the sustained buying by FPIs. During the last seven trading sessions i.e. from 26th April to 5th May, FPIs have bought equity worth Rs 11700 crores.
In the second half of April, FPIs had made large purchases in financial services and continued buying capital goods. They were big sellers in IT.
FPIs are likely to continue buying in India. The appreciation in rupee and good Q4 results will aid increasing capital flows to India.
HDFC twins were impacted in Friday’s trade on reports that MSCI would include the merged entity in their index with a “limited investability factor” of 50 percent against market expectations of 74 percent. Since selling of around Rs 2000 crore worth of HDFC Bank shares is expected, HDFC twins will be under pressure in the near-term.
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