Quote on FPI: FPIs are likely to turn cautious in the near term Says Dr. V K 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
"FPI flows in December up to 24th indicate net investment of Rs 7278 crores (NSDL data). But if we exclude the buy figure of Rs 8977 crores on 1st December ( mostly bulk investment ) the net FPI investment in December stands at negative Rs 1699 crores. FPIs have turned cautious in recent days. Concerns about Covid spread in China is a negative sentiment and the strong economic data from the US indicate continuation of the hawkish stance of the Fed which is pushing bond yields up and equities down. Only reversal of this trend will trigger a rebound in the market. In the first half of December, FPIs were buyers in autos, capital goods, FMCG and real estate stocks. They were sellers in consumer durables, oil and gas, power and financials. FPIs are likely to turn cautious in the near term. Macro data from the US and Covid news will drive FPI flows and the markets in the near term."
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Trend reversal in FPI investment from buying in last 3 months to selling in Sep
