Quote on FPI By Dr. VK Vijayakumar, Geojit Financial Services
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Below is quote on FPI By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The depository data for FPI investments shows net equity selling by FPIs to the tune of Rs 4694 cr for this month up to 12th. If we exclude the investments made by FPIs in the primary market, the net sales in equity through the stock market jumps to Rs 10949 cr. Coming on top of the October sale figure of Rs 13550 cr, this is big selling indeed. It appears that FIIs are exiting on valuation concerns.
The important point to note is that the old scenario where FIIs representing smart money dictated market trends is over for the present. DIIs flush with money and the exuberant retail investors are calling the shots now. This can change if a major trigger causes a big pullback from the present lofty levels. We are in a period of uncertainty"
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