Foreign investors pour over Rs 12k cr in Indian equities in last 10 days



Foreign Institutional Investors (FII) have invested Rs 12,190 crore in last 10 days in the Indian equity market after remaining sellers in the last few months. However, (DII) in the same period have sold stocks worth Rs 2,677 crore.


The increase in the amount of money coming into the market has helped to rise sharply and to appreciate against the US.


“There is a complete reversal of FPI activity in the Indian stock market. FPI who were relentless sellers in the Indian market from October 2021 to June 2022 turned net buyers in July and the buying continues in August, so far. The change in FPI strategy has imparted strength to the recent market rally,” said Dr V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.


The flows has turned positive in the Indian market nearly after nine months. invested around Rs 4,980 crore in July in the . This comes after heavy sell-off by these entities of around Rs 50,203 crore in June.


According to the data NSDL data, investment of in July month stood at Rs 4,989 crore, as compared to over Rs 50,000 crore outflows in June, Rs 39,993 crore in May and Rs 17,144 crore in April.


The domestic have also risen sharply during the last few days. The Sensex has risen more than 2500 points and Nifty rose 746.65 points in the last 10 days, and is now trading at 59,383.25 and 17,676.25, respectively, till writing of this story.


Experts said that the have turned buyers in sectors like capital goods, FMCG, construction and power sectors.


Meanwhile, the has also appreciated sharply after depreciating to a record low last month. At 1.30 p.m., in the interbank foreign exchange market, is trading at 79.44 against the US dollar, up 8 paise from its previous close.


–IANS


manish/dpb

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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