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The selling process by Foreign Portfolio Investors (FPIs) in Indian stock markets continued in November as well. Amid tensions in West Asia and rising interest rates, FPIs withdrew Rs. 3,400 crores have been withdrawn.
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Earlier, FPIs had withdrawn Rs. 24,548 crore and in September Rs. 14,767 crore was withdrawn. FPIs were consistent net buyers in the last six months from March to August. During this period he invested Rs 1.74 lakh crore in the stock market. However, the selling trend by FPIs may stop in future, as the US central bank’s dovish stance has stalled the rise in bond yields.
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VK Vijayakumar, chief investment strategist at Geojit Financial Services said, “Bond yields have reversed their upward trend after the dovish comments from Federal Reserve Chief Jerome Powell. The market has interpreted his remarks as a ban on raising interest rates.” According to depository data, FPIs between November 1 and 3 raised Rs. 3,412 crore shares have been sold. FPIs have been selling steadily since the beginning of September.
Himanshu Srivastava, Associate Director and Manager Research, Morningstar India, said, “The Israel-Hamas conflict and the rise in bond yields in the US are driving the selling of FPIs.” Experts believe that FPIs are a safer investment in the current scenario. option. May turn to gold and the US dollar.
During the period under review, FPIs in the loan or bond market raised Rs. 1,984 crore has been invested. Earlier in October, FPIs in the bond market invested Rs. 6,381 crore was placed. Thus, in the current year so far, FPI investment in shares has stood at Rs. 92,560 crore has been. His investment in the bond market has reached Rs 34,485 crore.