FPIs Sold Equities Worth Rs 27,000 Crore In January
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New Delhi: FPIs continued to be sellers in the cash market having sold equity worth Rs 27,664 crores through January 25, said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. FPIs were sellers in autos and auto ancillary, media and entertainment and marginally in IT. They bought oil and gas, power and selectively in financial services, he said.
The rising bond yields in the US is a matter of concern and this has triggered the recent bout of selling in the cash market. The rally in global stock markets was triggered by the Fed pivot which saw the 10-year bond yield falling from 5% to around 3.8%. Now the 10-year is back at 4.18% which indicates that the Fed rate cut will come only in H2 of 2024, he said. ( Also Read:BLS E-Services Ltd IPO: Check Opening & Closing Dates, Price Band, Lot Size, GMP, And Other Details ) As per a report by Kotak Institutional Equities, listed funds witnessed inflows of $2 billion, completely led by ETF inflows. I