New Delhi, Sep 9 (SocialNews.XYZ) Net FPI investment in September has turned negative and as per NSDL data, FPIs through September 8 have sold equity for Rs 4,402 crore and if we exclude the bulk deals and investment through the primary market, the sell figure in the cash segment rises to Rs 8,832 crore, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
This trend reversal in FPI investment from buying in the last three months to selling in September is mainly due to the rising US bond yields and the uptrend in the dollar index, he said.
FPIs can be expected to turn buyers when the dollar index and US bond yields decline, which, in turn, will depend on the incoming US inflation and growth data.
A significant trend in FPI investment is their consistent buying in capital goods and power. This explains the smart uptrend in power stocks and capital goods stocks like L&T, he said.
FPI selling in financials is keeping the prices of the banking bluechips low.
This is an opportunity for retail investors since this segment is doing well and the stocks are fairly valued, he added.
<
p style="font-weight: 400" data-mce-style="font-weight: 400;">
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz