FPIs break 3-day buying spree; sell over Rs 11,700 cr on November 28

After a brief respite, foreign investors resumed selling on Thursday, offloading domestic equities worth a staggering Rs 11,756 crore. This marked an abrupt end to three consecutive days of buying and sparked chaos on Dalal Street.

FIIs reverse 3-day buying streak

Foreign institutional investors (FIIs) had recently broken a 38-session selloff streak by purchasing Rs 11,100 crore worth of domestic equities over three trading days.

  • Monday: FIIs bought shares worth Rs 9,947.55 crore.

Also ReadEnviro Infra Engineers IPO makes strong debut, lists at 48.6% premium on NSE

  • Tuesday: Additional purchases of Rs 1,157.70 crore.
  • Wednesday: Net buying activity slowed significantly to just Rs 7.7 crore.

The short-lived buying spree had sparked hopes of a sustained recovery, following months of outflows tied to the “Sell India, Buy China” trend.

Net outflows continue for 2nd straight month -November

Despite the brief buying activity, foreign portfolio investors (FPIs) remain net sellers for November, having divested Rs 13,079 crore in equities so far.

This extends their negative trend from October, when FPIs offloaded shares worth Rs 94,017 crore. On a year-to-date basis, FIIs have sold Rs 6,486 crore worth of domestic stocks, reflecting overall bearish sentiment.

Month-on-Month FPI trends in 2024

FPI activity has been highly volatile throughout the year:

  • September: Rs 57,724 crore net inflows, the highest monthly buying figure of 2023.
  • August: Net purchases of Rs 7,322 crore, down from Rs 32,359 crore in July.

Also ReadIT stocks drag markets lowest in 2-months

  • June: Rs 26,565 crore net buying, rebounding from April and May, which saw net outflows of Rs 8,671 crore and Rs 25,586 crore, respectively.
  • February and March: Modest net inflows of Rs 1,539 crore and Rs 35,098 crore, respectively.
  • January: The year started on a negative note, with FPIs selling Rs 25,744 crore worth of equities.

Market Impact and Outlook

The abrupt return to heavy selling underscores the fragile investor sentiment driven by global economic uncertainties, including rising US bond yields, a strong dollar, and concerns over China’s recovery pace. 

Analysts believe that while sporadic buying spurts may occur, consistent inflows will likely depend on clarity over global interest rates and domestic policy stability.

 » Read More

Related Articles

China fund managers face 50% pay cut for poor performance — Here’s what’s changing

Fund managers in China may see a major blow to their salaries. If they do not meet the set performance standards, their salaries can be cut by up to 50%. This decision is part of a comprehensive reform in the country’s 33 trillion yuan ($4.6 trillion) mutual fund industry. According to a Bloomberg report, the

Two stocks ready to takeoff as summer arrives early

The India Meteorological Department has forecast above-average summer temperatures and increased heat waves. This is not surprising, as India is already facing rising temperatures. The demand for cooling products is expected to lead to record sales this year due to the early arrival of summer. High temperatures will increase the demand for air conditioners, coolers

Gold Price hits US$ 3,000. Could a recession boost it further?

Gold has been on a tear with its price jumping over 50% in the last one year. In international markets, gold crossed $3,000 an ounce on March 14, while in India, gold rate today is Rs 87,970 per ten grams. The recent surge in gold prices is due to the R-word – recession, which now

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

China fund managers face 50% pay cut for poor performance — Here’s what’s changing

Fund managers in China may see a major blow to their salaries. If they do not meet the set performance standards, their salaries can be cut by up to 50%. This decision is part of a comprehensive reform in the country’s 33 trillion yuan ($4.6 trillion) mutual fund industry. According to a Bloomberg report, the

Two stocks ready to takeoff as summer arrives early

The India Meteorological Department has forecast above-average summer temperatures and increased heat waves. This is not surprising, as India is already facing rising temperatures. The demand for cooling products is expected to lead to record sales this year due to the early arrival of summer. High temperatures will increase the demand for air conditioners, coolers

Gold Price hits US$ 3,000. Could a recession boost it further?

Gold has been on a tear with its price jumping over 50% in the last one year. In international markets, gold crossed $3,000 an ounce on March 14, while in India, gold rate today is Rs 87,970 per ten grams. The recent surge in gold prices is due to the R-word – recession, which now

Wall Street rallies to its best day in months, but that’s not enough to salvage its losing week

US stocks rallied to their best day in months on Friday as Wall Street’s roller coaster suddenly shot back upward. That still wasn’t enough to keep the US market from a fourth straight losing week, its longest such streak since August. The S&P 500 jumped 2.1% a day after closing more than 10% below its

Market crash goldmine? 2 Mukul Agarwal’s portfolio stocks trading at over 50% discount

As the markets graduated from a correction to a full-blown crash, investors of all types are running for exit. It is at times like these that we must remember the words of the world’s most famous value investor, Warren Buffet. He said, “Be greedy when others are fearful and be fearful when others are greedy.”