FPIs sold equities worth Rs 27,000 crore in January

FPIs continued to be sellers in the money market having sold fairness worth Rs 27,664 crores by way of January 25, stated V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

FPIs have been sellers in autos and auto ancillary, media and leisure and marginally in IT. They purchased oil and fuel, energy and selectively in monetary providers, he stated.

The rising bond yields in the US is a matter of concern and this has triggered the current bout of promoting in the money market. The rally in international inventory markets was triggered by the Fed pivot which noticed the 10-year bond yield falling from 5% to round 3.8%. Now the 10-year is again at 4.18% which signifies that the Fed price lower will come solely in H2 of 2024, he stated.

As per a report by Kotak Institutional Equities, listed funds witnessed inflows of $2 billion, fully led by ETF inflows. India-dedicated funds witnessed inflows of $3.1 billion, damaged down into $2 billion of ETF inflows and $1.1 billion of non-ETF inflows, whereas GEM funds noticed $247 million of outflows, led by $337 million of non-ETF outflows, offset by $90 million of ETF inflows.

Listed rising market fund flows have been blended. South Korea, Indonesia and Taiwan witnessed $3 billion, $262 million and $76 million of outflows, respectively. China, India and Brazil noticed $10.8 billion, $2 billion and $186 million of inflows, respectively. Total FPI and EPFR exercise confirmed divergent developments for Indonesia, South Korea and Taiwan.

(With inputs from IANS)