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Sunday, September 20, 2020

FPIs continue to be sellers as markets rise on liquidity boost to MFs

The Sensex ended the day 415.86 points, or 1.33 per cent, higher to close at 31,743.08. The Nifty50 closed 127.9 points, or 1.40 per cent, higher to settle at 9,282.3.

By: ENS Economic Bureau | Mumbai | Updated: April 28, 2020 5:44:01 am
Reserve Bank of India, Foreign portfolio investors, FPIs investors, domestic equity markets, BSE Sensex, Coronavirus impact on economy, According to provisional data, FPIs sold equities worth 0.3 million. Domestic institutional investors (DIIs) bought equities worth 0.02 million. (File Photo)

Foreign portfolio investors (FPIs) continued to remain sellers in domestic equity markets, even as the benchmarks rose on Monday on the back of the Reserve Bank’s announcement of a Rs 50,000-crore liquidity support for mutual funds and in anticipation of a fiscal package. The Sensex ended the day 415.86 points, or 1.33 per cent, higher to close at 31,743.08. The Nifty50 closed 127.9 points, or 1.40 per cent, higher to settle at 9,282.3.

According to provisional data, FPIs sold equities worth $120.3 million. Domestic institutional investors (DIIs) bought equities worth $150.02 million. They were large sellers in March, pulling out $8.3 billion. In April, FPIs have continued to sell but the extent of selling has reduced and the net outflow till April 27 is at $408.6 million. This, some market experts said, may suggest that FPIs still believe in India’s consumption story.

Other experts believe the continued selling in emerging markets is because investors want to pile up on cash due to the on-going pandemic. The F&O segment recorded a turnover of Rs 7.15 lakh crore against the six-month average of Rs 14.42 lakh crore. The cash market turnover stood at Rs 45,740.8 crore against the six-month average of Rs 39,134 crore.

Meanwhile, the rupee appreciated by 21 paise to close at 76.25 against the US dollar on Monday, tracking positive domestic equities and weakening of the American currency in the overseas market. —FE WITH PTI

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