Foreign institutional investors (FII) offloaded shares worth net Rs 90.29 crore, while domestic institutional investors (DII) added shares worth net Rs 783.25 crore on October 6, 2023, according to the provisional data available on the NSE.
“The benchmark 10-year yield is consistently over 4.7% forcing the FPIs to sell in emerging markets. India continues to be on top of emerging economies in attracting FPI this year but September witnessed selling and October has begun with the same trend. In the first four days of October, FPIs have sold stocks for Rs 9412 crores in the cash market. FPIs have been selling in financials, power, IT and oil and gas,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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For the month till October 6, 2023, FIIs sold shares worth net Rs 8,412.65 crore while DIIs bought shares worth net Rs 4,435.17 crore. In the month of September, FIIs offloaded shares worth net Rs 26,692.16 crore while DIIs added equities worth a net Rs 20,312.65 crore.
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“Even while selling continuously FPIs have been buyers in capital goods, autos and auto components. In the context of elevated dollar and US bond yields FPIs are unlikely to turn buyers in the market soon. Q2 results from financials, which are expected to be good, might restrain FPIs from selling in this segment,” V K Vijayakumar added.
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Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors – foreign institutional investors (FIIs) and domestic institutional investors (DIIs) – can impact the economy’s net investment flows.
