Foreign portfolio investors (FPIs) continued to be net sellers for six months to March 2022, pulling out an enormous net amount of Rs 1.48 lakh crore from equities.
Foreign Portfolio Investors (FPIs) pulled out Rs 14,721 crore from equities, Rs 2,808 crore from debt segment and Rs nine crore from hybrid instruments between March 2-4, according to depositories data.
FPIs, who sold equities worth $397 million in May, actually bought $479 million worth of shares in the second half of the month, after selling shares worth $876 million in the first half.
Energy, financials top picks of FIIs in Feb; materials stay out of favour
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A BofA Securities analyst said foreign institutional investors have piled on shares of financial and energy stocks in February, hoping for a better earnings performance as the economy improves.
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NEW DELHI: One much-followed maxim of the market is to follow the smart money, referring to investments by institutional investors. Going by that, it seems financials and energy stocks are the flavour of the season.
An analysis by BofA Securities showed foreign institutional investors (FIIs) have piled on shares of financials and energy companies in February hoping for better earnings performance as the economy improves. “FII flows (in February) were skewed in favour of financials ($2.2 billion), energy ($874 million) and telecom ($256 million); whereas IT ($317), staples ($152mn) and discretionary ($95mn) saw outflows,” said Amish Shah of BofA Securities.