Huge FPI Investments Totaling ₹1.71 Lakh Crore In 2023, Uptick In December Drives Surge

Huge FPI Investments Totaling ₹1.71 Lakh Crore In 2023, Uptick In December Drives Surge

FPI inflows which were negative in the previous 3 months have sharply turned positive in December with total buying of Rs Rs 66134 crores.

IANSUpdated: Saturday, December 30, 2023, 01:58 PM IST
article-image
Huge FPI Investments Totaling ₹1.71 Lakh Crore In 2023, Uptick In December Drives Surge | Representational image

The year 2023 has witnessed huge investment by FPIs thanks to the sharp uptick in flows in December, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

FPI inflows negative in previous 3 months to positive in December

FPI inflows which were negative in the previous 3 months have sharply turned positive in December with total buying of Rs Rs 66134 crores. This figure includes the buying through stock exchanges and investment in the primary market. The total FPI inflows in 2023 stand at Rs 171106 crores, he said.

The steady decline in US bond yields has caused this sudden change in the strategy of FPIs. In December, FPIs were big buyers in financial services which explains the resilience of this segment in December. FPIs also bought in sectors like autos, capital goods and telecom. Since 2024 is expected to witness further declines in U.S. interest rates, FPIs are likely to increase their purchases in 2024 too, particularly in the early months of 2024 in the run up to the General elections, he said.

RECENT STORIES

Microsoft's New Deal With France's Mistral AI Is Under Scrutiny From The European Union

Microsoft's New Deal With France's Mistral AI Is Under Scrutiny From The European Union

End-User Spending On Security, Risk Management To Reach $2.9 Billion In India

End-User Spending On Security, Risk Management To Reach $2.9 Billion In India

Consumer Court Penalizes Flipkart, OnePlus, Hands A ₹30,000 Fine, For Selling Used Phone As Brand...

Consumer Court Penalizes Flipkart, OnePlus, Hands A ₹30,000 Fine, For Selling Used Phone As Brand...

TN's VOC Port Will Be India's First Green Hydrogen Hub: Minister

TN's VOC Port Will Be India's First Green Hydrogen Hub: Minister

Vineeta Singh Net Worth: Sugar Cosmetics Founder Net Worth About ₹300 Cr; Check Out Her Car...

Vineeta Singh Net Worth: Sugar Cosmetics Founder Net Worth About ₹300 Cr; Check Out Her Car...