FPIs Turn Net Buyers As Nifty Rises For Fourth Day

The foreign portfolio investors on Tuesday turned net buyers of Indian shares after 10 days of selling. The FPIs bought stocks worth approximately Rs 1,440.66 crore, according to provisional data from the National Stock Exchange. The DIIs have stayed net buyers for nearly a month and bought stake worth Rs 452.57 crore.

In the last week, FPIs sold stake worth Rs 8,347.25 crore.

The FPIs sold stake worth Rs 1,602.04 crore on Monday, according to the National Securities Depository Ltd. So far in October FPIs have sold stakes worth Rs 6,899 crore, according to NSDL.

FPIs were net sellers for the third consecutive month, offloading $2.7 billion in Indian equities in September. Year-to-date, offshore investors have sold $17.5 billion worth of Indian shares.

FPIs sold shares worth $690 million in the healthcare sector in September, marking the highest monthly outflow since June 2019, when they offloaded shares worth $724 million, according to data from NSDL.

The healthcare sector was followed by information technology, where FPIs sold $682 million. IT shares faced fresh pressure after the US announced an H-1B visa fee increase. The move is expected to affect companies including TCS, one of the largest visa recipients.

Other sectors seeing FPI outflows included fast-moving consumer goods, consumer durables and consumer services, with selloff totaling $474 million, $409 million and $381 million, respectively.

On the inflow side, the automobile and auto components sector received $411 million. Capital goods and metals & mining attracted $340 million and $208 million, respectively.

Equity benchmarks extended their winning streak for the fourth consecutive session, with the Nifty closing above the 25,100 mark. Nifty 50 ended 0.12% higher at 25,108.30 and Sensex closed 0.17% higher at 81,932.05 on Tuesday. The Nifty rose over 0.57% during the day to 25,220.90, while the Sensex climbed 0.64% to 82,309.56.