Tuesday, April 16, 2024
Latest News
WhatsApp introduces 'Recent Online Contacts' feature: What is this and how to use it NASA's plan to bring Mars samples to Earth undergoes revision due to budget cuts Election Commission Of India: 48.76cr Drugs, 19.27cr Liquor Seized From Mar 1 To Apr 13 | Guwahati News China’s GDP growth beat expectations – so why are analysts and business groups still downbeat? US, Chinese defence chiefs talk for first time in more than two years Samsung has good news for Galaxy S22 users: OneUI 6.1 update to bring latest Galaxy AI features and more Copenhagen’s Old Stock Exchange Building Partly Collapses in Fire Former UK leader Liz Truss backs Trump and blames others for her ouster after 49 days Biden under fire for shutting down US oil production, urged to impose sanctions on Venezuela Possession Of Ganja: Two Youths Held For Possession Of Ganja, Luxury Car Seized | Coimbatore News CBDT signs record number of 125 Advance Pricing Agreements in fiscal 2023-24 Gay cruising hotspot or sacred Hong Kong wishing tree? It is both in this art exhibition by Trevor Yeung SCMP Best Bets: Beast can scare off rivals at Happy Valley | HK Racing Justice Thomas returns to Supreme Court after 1-day absence 404 | Fox News 'I can feel Begunia residents' support for Congress, my family' | Bhubaneswar News Rumoured couple Sonakshi Sinha and Zaheer Iqbal's relationship decoded by body language expert China’s top diplomat Wang Yi to push belt and road during visits to Indonesia, Cambodia and Papua New Guinea Luck finally eludes Shreyas Iyer! KKR skipper loses toss against RR despite kissing coin before flipping | Cricket News Electric vehicles: China’s Chery Automobile enters UK’s car rental business as its Omoda EVs are leased out by Octopus A London court rules against a Muslim girl who wanted to pray at a school known for strict rules UP: RPF cop saves man from coming under train at Prayagraj railway station | Allahabad News India's unemployment rate to decline by 97 basis points by 2028: ORF report 'Rishabh Pant deserves to be...': Ricky Ponting makes a big statement on wicketkeeper-batter | Cricket News Sony PS5 Pro leaked specs confirmed: This is what to expect from the next PlayStation 5 launching soon Inside the Manhattan Courtroom Where Trump Is on Trial Law firm accidentally divorced wrong couple after 'clicking wrong button' Opinion | Israel-Iran showdown puts the whole world in uncharted territory Waterborne Diseases: Waterborne Diseases On The Rise | Ahmedabad News IMF keeps China’s 2024 GDP growth estimate unchanged on ‘troubled property sector’
HomeBusinessFPIs invest Rs 11,557 crore in equities in December; Covid updates to...

FPIs invest Rs 11,557 crore in equities in December; Covid updates to drive flows in near term


NEW DELHI: Foreign investors have infused a net Rs 11,557 crore in Indian equities in December so far despite a market correction and increasing concerns over re-emergence of Covid in China and some other parts of the world.
Going ahead, macro data from the US and Covid news will drive FPI flows and the markets in the near term, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
According to data with the depositories, Foreign Portfolio Investors (FPIs) invested a net sum of Rs 11,557 crore in equities during December 1-23.
This comes following a net investment of over Rs 36,200 crore in November primarily due to weakening of the US dollar index and positivity about overall macroeconomic trends.
Prior to this, foreign investors pulled out Rs 8 crore in October and Rs 7,624 crore in September, data with the depositories showed.
“Despite correction in the markets, increasing concerns over re-emergence of Covid in some parts of the world and recession worries in the US, FPIs remained net buyers in the Indian equity markets (in December),” said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India.
However, the quantum of net inflow was much lower at a little over Rs 1,000 crore in the week ended December 23, compared to Rs 6,055 crore recorded in the previous week.
The fall in net inflow does indicate that foreign investors are gradually turning cautious given the recent developments and ongoing uncertainties, he noted.
“Concerns about Covid spread in China is a sentiment negative and the strong economic data from the US indicate continuation of the hawkish stance of the Fed which is pushing bond yields up and equities down. Only reversal of this trend will trigger a rebound in the market,” Vijayakumar said.
Also, in the midst of the ongoing uncertainty, many investors would also have chosen to book profits with Indian markets touching all time highs recently.
In the first half of December, FPIs were buyers in autos, capital goods, FMCG and real estate stocks, while they were sellers in consumer durables, oil and gas, power and financials.
Overall, FPIs have pulled out a net sum of Rs 1.21 lakh crore from the equity markets so far in 2022.
Foreign investors have withdrawn a net sum of Rs 2,900 crore from the debt markets during December.
Barring India, FPI flows were negative across emerging markets such as the Philippines, South Korea, Taiwan, Thailand and Indonesia so far this month.





Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments

Latest News