Quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Below the Quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"FIIs intensified their selling spree in January. They have been sellers on all days except January 2nd. In the recent days selling has intensified. The single major reason for the relentless selling by the FIIs is the steady rise in the dollar index which is above 109 now. The surge is the 10-year bond yield to above 4.6% is ensuring capital flows from emerging markets like India. In January through 10th FIIs sold equity for Rs 22259 crores. (NSDL)
The latest data from the U.S. indicate resilience of the U.S. economy and unemployment has come better-than-expected at 4.1%. This means the possibility of more rate cuts by the Fed in 2025 is receding. This will further push up the bond yield. In brief, the macro construct is not favourable for the return of the FIIs in the near-term. They are likely to press further sales putting pressure on the market."
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