According to depository data, FPIs invested Rs 2,088 crore in the bond market from July 1 to 10. In this way his net withdrawal stood at Rs 161 crore.
FPI has reaped profits at higher level.
FPI investment in July: Foreign portfolio investors (FPIs) pulled out Rs 2,249 crore from the Indian stock markets in the first seven trading sessions in July after a month of continuous exposure. Himanshu Srivastava, Associate Director (Managerial Research), Morningstar India said that the main reason for this is profit-cutting by FPIs as the market is currently at an all-time high.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said one needs to understand the fact that they are not selling too much. “This is because valuations have been pulled up, but there is no sign of any major downside in the markets. The yield on 10-year bonds has come down to 1.3 per cent, which has once again turned the market towards stocks.
FPIs were net buyers in June
According to depository data, FPIs invested Rs 2,088 crore in the bond market from July 1 to 10. In this way his net withdrawal stood at Rs 161 crore. Earlier in June, FPIs had invested a net Rs 13,269 crore in the Indian markets. At the same time, in April and May, he made a pure withdrawal from the Indian markets.
Sensex down more than 1 percent this week
If we look at the performance of the stock market, the Sensex has fallen 1.02 percent this week. It had gained 1.11 percent in the previous week. On a weekly basis, the Nifty 50 declined for the second consecutive week. The Nifty recorded a decline of 0.21 percent.
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