Mumbai: Foreign portfolio investors (FPIs) have slowed down selling Indian equities in November. So far in November, FPIs have sold shares worth Rs 25,942 crore ($3.08 billion). This is less than one-third of the Rs 94,017 crore ($11.18 billion) they sold in October.
.In the November fortnight, financial services and oil & gas stocks continued to be the hardest hit, while sectors such as information technology, construction, and healthcare managed to see some inflows during the first fortnight of the month.
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FPIs pulled out Rs 7,092 crore ($840 million) from financial services stocks, including banks, and Rs 7,214 crore ($855 million) from shares of oil & gas companies. Automobile and fast-moving consumer goods (FMCG) companies also saw withdrawals of Rs 4,411 crore ($523) and Rs 3,589 crore ($425), respectively. At the same time, FPIs continued to buy Indian equities worth Rs 9,931 crore in the primary market.
Despite the pace of FPI selling slowing down, the outflows so far in November have turned FPIs into net sellers of Rs 19,351 ($2.23 billion) from buyers in 2024. The outflows of Rs 70,963 crore ($8.49 billion) from the financial services, where FPIs have the highest allocation, have weighed on FPI flows for 2024 the most. This is followed by the oil & gas sector, which has seen withdrawals of Rs 39,382 ($4.69 billion) so far in 2024.
Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, Domestic Institutional Investors (DII) are those who invest in the country they are living in. Both types of investors can impact the economy’s net investment flows.
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