20-10-2024 10:44 AM | Source: Geojit Financial Services
Since financials constitute the lion’s share of FPI holding, large-cap financials are under pressure. This is a buying opportunity for mid to long-term investors since this segment, particularly leading banking names, are fairly valued."
Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"This month, through 18th October, FPIs have sold equity for Rs 77701 crores. Selling through the exchanges has been higher at Rs 83082 crores (NSDL). This massive selling caused a correction of about 5% in Nifty, but didn’t have a serious impact on the market since almost the entire FPI selling has been absorbed by DIIs, who are receiving sustained fund inflows. This trend of FII selling and DII buying is likely to sustain in the near-term. The rationale behind FPI selling is the elevated valuations in India and the cheap valuations of Chinese stocks, which the FPIs have been buying aggressively since mid September. This “sell India, Buy China” is most likely to be a short-term tactical trade; but it can run for some more time, given India’s elevated valuations.
Since financials constitute the lion’s share of FPI holding, large-cap financials are under pressure. This is a buying opportunity for mid to long-term investors since this segment, particularly leading banking names, are fairly valued."
Above views are of the author and not of the website kindly read disclaimer
Latest News
India Kotak Mahindra Bank`s quarterly profit misses ...
India`s Tech Mahindra beats July-Sept revenue view
Pilot hiring up 8 pc by air carriers in South Korea ...
Centre targets food grain production at 341.55 milli...
Buy Bajaj Auto Ltd For Target Rs. 11940 By LKP Secur...
Quote on FPI by Dr. V K Vijayakumar, Chief Investmen...
Sundaram Alternates Launches Performing Credit Oppor...
Daily Market Commentary : Nifty opened lower but sho...
Quote on Market by Vinod Nair, Head of Research, Geo...
Quote on Gold by Jateen Trivedi, VP Research Analyst...
Tag News
Daily Market Commentary : Nifty opened lower but showed a smart recovery during the day gain...
More News
Daily Market Analysis : Markets remained volatile for yet another session and lost nearly ha...
Post-market comment by Mandar Bhojane, Choice Broking
Daily Market Analysis : Markets traded volatile for yet another session but ended with decent gains by Mr. Ajit Mishra, Religar...
Daily Market Analysis : Markets edged higher and gained nearly half a percent, in continuation of the prevailing trend Says Mr....