fpis: FPIs buy Indian equities worth Rs 57,359 crore in September so far. 2024 tally crosses Rs 1 lakh crore mark

With just a session left for September to end, so far Foreign Portfolio Investors (FPIs) have been net buyers of Indian equities at Rs 57,359 crore. The total investments by them now stand at Rs 1,00,245 crore on the year-to-date basis and is highest in nine months.

In August, FPIs bought domestic shares worth Rs 7,322 crore which was down month-on-month from July when the total purchase stood at Rs 32,359 crore. While in June, they were net buyers at Rs 26,565 crore after remaining net sellers in April and May when they sold equities worth Rs 8,671 crore and Rs 25,586 crore respectively.

In February and March they were net buyers at Rs 1,539 crore and Rs 35,098 crore after starting the year on a negative note in January when they offloaded shares worth Rs 25,744 crore.

On Friday, the foreign institutional investors (FIIs) were net sellers at Rs 1,209.10 crore while the domestic institutional investors (DIIs) were also net buyers at Rs 6,886.65 crore.

“The strong FII buying witnessed this month continued for the week ending on September 27, too. The variations in the FII activity through the exchanges and the primary market also continues with occasional selling in the cash market and sustained investment through the primary market. FIIs have invested Rs 57359 crores so far in September with investment through the exchanges alone touching Rs 46480 crores,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Vijayakumar attributed the current stability in INR to FPI inflows, September Fed rate cut and the dovish commentary by the largest Central Bank. In his view, this could facilitate sustained flows to emerging markets like India.After seven consecutive sessions of record-breaking highs, key indices Sensex and Nifty took a pause on Friday, closing in the red as heavyweight financial stocks weighed down the markets. The BSE Sensex declined 264 points or 0.31%, settling at 85,571. The broader NSE Nifty dropped 37 points or 0.14%, ending at 26,178.Also Read: NSE, BSE revise transaction fees; new charges effective from October 1

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Secular Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – seculartimes.com. The content will be deleted within 24 hours.

Leave a Comment