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FPIs turn net sellers in India stocks amid Middle East crisis

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NEW DELHI: Foreign portfolio investors (FPIs) have recently become net sellers in Indian stocks as they cumulatively sold stocks worth Rs 5,254 crore, as per the recent data the National Securities Depository Limited (NSDL).
Last time, they turned net sellers in January this year after which they consecutively were the net buyers in February and March.
One of the major reasons of FPIs pulling out funds from the Indian markets is said to be the ongoing geopolitical crisis in the Middle East.
FPIs were the major sellers in IT and FMCG sectors while they infused funds in auto and telecom. “Coming to portfolio changes by the FPIs, this month FPIs have been big sellers in IT in anticipation of poor Q4 results. They were also sellers in FMCG and consumer durables. FPIs were buyers in autos, capital goods, telecom, financial services, and power,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The Indian economy is showing promising signs of growth and stability. The country’s GDP expanded by 8.4 percent in the October-December quarter of the financial year 2023-24, maintaining its position as the fastest-growing major economy. This growth is expected to continue in the future, supported by factors such as firm GDP growth forecasts, manageable inflation levels, political stability at the central government level, and indications that the central bank has completed its monetary policy tightening cycle.

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