New Delhi, August 26 (SocialNews.XYZ) In the cash market, FPIs sold stocks for Rs 15,817 crore through August 26, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
FPI selling which began in early August continues. The consolidated NSDL data shows the August FPI investment through 26th at Rs 10,689 crore.
But this figure includes investment through the primary market and bulk deals, which have been gathering momentum recently. In the cash market FPIs sold stocks for Rs 15,817 crore through August 26.
Strength in the dollar index at well around 104 and the US 10-year bond yield remaining around 4.25 per cent are short-term negatives for FPI flows to emerging markets like India, he said.
An important feature of FPI investment is their consistent buying in capital goods. And, of late, they have started selling in financials.
In view of the strong dollar and rising US bond yields, FPIs are likely to continue selling in the cash market in the near-term, he added.
The poor monsoon in August and its skewed spatial distribution may keep inflation elevated, and this is becoming an area of concern impacting sentiments in the market. This might impact FPI investment, too, he said.
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Source: IANS
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