Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

25-11-2024 11:04 AM | Source: Geojit Financial Services Ltd

Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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Below the Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

"The relentless selling by FIIs continued in November till 22nd. After selling equity for Rs 113858 crores through exchanges in October, FIIs have sold another Rs 41872 crores of equity through exchanges in November through 22nd. The trend of FII buying through the primary markets also continued with Rs 15339 crore worth buying in November through 22nd.

The total FII selling through the exchanges for the period 1st October through 23rd November stands at a whopping Rs 155730 crores. This is the kind of selling that happens in a year when FIIs are on selling mode.

Mainly three factors led to this massive selling by FIIs. One, the ‘Sell India, Buy China’ trade. Two, the concerns surrounding FY25 earnings. Three, the ‘Trump trade.’ Of the three, the ‘Sell India, Buy China’ trade is over. The Trump trade also appears to be on its last leg since valuations have reached high levels in the US.

Therefore, the FII selling in India is likely to taper off soon. Also valuations of largecaps in India have come down from the elevated levels. FIIs have been buying IT stocks and this has been imparting resilience to IT stocks. Banking stocks have been resilient despite FII selling, mainly due to DII buying."

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Quote on FPI by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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