- FPIs turned
net sellers in theIndian stock markets in October 2024. - FPIs offloaded stocks worth ₹94,017 crore in October as per NSDL data.
Sensex has fallen from its all-time high of 85,978 points to now trading at 79,389 points.
They offloaded stocks worth ₹94,017 crore in October, data made available by National Securities Depository Limited (NSDL) showed.
In June, July, August, and September, they bought stocks worth ₹26,565 crore, ₹32,365 crore, ₹7,320 crore, and ₹57,724 crore, respectively.
FPIs had fuelled the bull run in the stock market, barring the latest slump. As per definition, Foreign Portfolio Investment (FPI) involves an investor buying foreign financial assets.
Sensex has fallen from its all-time high of 85,978 points to now trading at 79,389 points. The recent sessions have been bearish for the indices, attributable to fund outflows and lower-than-expected Q2 earnings of India Inc.
On Thursday, the Sensex settled at 79,389.06 points, down 553.12 points or 0.69 per cent, while the Nifty closed at 24,205.35 points, down 135.50 points or 0.56 per cent.
"We expect the consolidation to continue in the short term; a reversal in trend will depend on a slowdown in FIIs selling intensity and the outcome of the US presidential election," said Vinod Nair, Head of Research, Geojit Financial Services, recently.
Interestingly, at a time when overseas investors were net sellers in Indian equities, domestic institutional investors stayed net buyers, largely making up for the outflows by foreign investors. They accumulated stocks worth thousands of crores more than FPIs in October, data showed. This has likely cushioned the stock indices from a sharp fall.
With inputs from ANI.
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