Quote on FPI : In September, total FPI selling of Rs 26689 crores was countered with total DII buying of Rs 19310 crores says Dr. V K Vijayakumar, 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 FPIs from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"September has witnessed a clear trend reversal in September. After sustained buying in the previous three months, FPIs have turned sustained sellers in September having sold stocks for Rs 26689 crores in the cash market. This sustained selling has been in response to steady dollar appreciation which took the dollar index close to 107 and the steady rise in the US bond yields which took the US 10-year bond yield to around 4.7%. The spike in the Brent crude to $97 also weighed on FPI selling.
However, last Friday (29th Sept) witnessed marginal decline in the dollar index, US bond yields and Brent crude. This has emboldened the DIIs to buy aggressively thereby imparting resilience to the market.
In September, total FPI selling of Rs 26689 crores was countered with total DII buying of Rs 19310 crores. Even while selling FPIs were buyers in capital goods and selected financials."
Above views are of the author and not of the website kindly read disclaimer
Tag News
Market Wrap Up : Technically, after a gap up opening the benchmark indices witnessed profit ...
More News
Daily Market Analysis : Markets remained range bound and settled marginally higher amid mixe...
