It appears that the momentum of buying has slowed down and FPIs have turned sellers during the last two trading days, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
FPI’s sustained buying continues in July. During the last three months, from May 1 through July 28, FPIs have invested Rs 1,36,351 crore in India. In July through 28, FPIs have invested in equity for Rs 45,365 crore, he said.
An important feature of FPI investment is that their buy/sell strategy is influenced by external factors like dollar index, US bond yields and global market trends, apart from domestic fundamentals, he said.
This is the reason why FPIs, during the last three months, have been buying the same financial stocks which they have been selling in the first three months of 2023.
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