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FPIs Sold Stocks For Rs 20,620 Crore In August
FPIs have been sellers in most emerging markets in August mainly due to this double whammy of rising dollar and rising bond yields. Profit booking in financials also contributed to FPI selling, he added.
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 "FPIs Sold Stocks For Rs 20,620 Crore In August")
Image Courtesy: IANS New Delhi: In the cash market, FPIs were sellers after three months of sustained buying. In August, FPIs sold stocks for Rs 20,620 crores in the cash market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
FPIs invested Rs 12,262 crore in August. This figure includes bulk deals and investments through the primary market. Rising bond yields in the US and a strong dollar index are negative for capital flows. This is the primary reason why FPIs have been sellers in the cash market, he said. (Also Read: Daughters Of Destiny: These Women Are Not Only Running Their Father's Business But Also Revolutionizing The Game - In Pics)
FPIs have been sellers in most emerging markets in August mainly due to this double whammy of rising dollar and rising bond yields. Profit booking in financials also contributed to FPI selling, he added. (Also Read: Best Upcoming Phones In September 2023: 10 Smartphones To watch Out For)
Regarding sector-specific investments, FPIs have been consistently buying in capital goods. Recently, they have been buyers in health care, too. The latest jobs report from the U.S. indicates that the US economy is slowing, so the Fed might not raise rates again. This can bring down the US bond yields and the dollar index.
He added that FPIs may again turn buyers in India if this scenario unfolds.
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