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

The rally in Chinese stocks appears to have tapered off as reflected in the declining trend in Shanghai and Hang Seng indices in recent days. In view of the elevated valuations in India, FPIs may continue to sell thereby putting a cap on any possible up move in the market. Another important trend in the sectoral moves is that despite the massive FPI selling in financials, this sector is resilient since the valuations are fair and every selling is being absorbed by DIIs and individual investors, particularly HNIs. Global markets will respond to the US presidential elections for a few days, after which fundamentals like US GDP growth, inflation and rate cut by the Fed will influence market moves."

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