“FIIs continued their selling in November as well. One puzzling feature of recent FII activity has been their highly erratic nature. For instance, in the three days from November 23 to 25, FIIs were buyers. But in the next two days, FIIs were again big sellers, selling equities for Rs 16,139 crore. Banya,” Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
He said the pace of sales slowed in November partly due to lower valuations due to a correction in the market.
“The trend of FII buying through the primary market continues. In November FIIs bought stocks worth Rs 17704 crore through the primary market. If we look at the period till 29 November 2024, the total FII sales for the year is Rs 118620 crore. Meanwhile, during this period FIIs It bought equity for Rs 103,601 crore through the primary market,” Vijayakumar said.
Will FIIs return to Dalal Street in December?
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While investors are hoping for a Santa rally next month, both valuations and earnings have weakened the market outlook. Q2 GDP growth of 5.4%, which was lower than expected, only added to macro concerns for investors.
Around Rs. FII inflows have turned negative in 2024 with outflows of Rs 19,000 crore and analysts say foreign capital will chase Indian stocks only when the market improves further and valuations become attractive.
In the last 10 years, FII inflows have been positive 6 times in the month of December.
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