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Foreign portfolio investors (FPIs) buying spree in Indian equities appears to be losing steam, with net investments of just Rs 468 crore in domestic markets last week, compared to Rs 7,804 crore in the preceding week. The benchmarks Sensex and Nifty 50 witnessed their first weekly loss in five weeks as investors took partial profits. However, inflows from FPIs were positive for the fourth consecutive month, with over $4bn invested in July, lower than June s over $6bn inflows.
The rollover in Nifty futures to August was about 80% against the three-month average of 79%, according to provisional data. A rollover happens when a trader closes the position before expiry and opens a similar new position in the next month s contract. The process happens only in futures contracts.
The rollover of positions to the August derivative series of Nifty50 was higher than the three-month average, and the open interest was also higher than that at the beginning of the July series.