For 2024 till 27th December, FIIs through the exchanges will have Rs. 1,19,277 crore equity was sold.
While early December saw occasional buying, FIIs again turned to sellers.
Interestingly, FIIs through the primary market raised Rs. 1,20,932 crore, making them net investors in India so far this year.
“One important characteristic about FII investment is that they have been consistent investors in equities through the primary market,” notes VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, noting that in December alone, FIIs in the primary market had invested Rs. 17,331 crore had been invested.
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“Sales through the exchange are mainly due to higher valuations and investments through the primary market are mainly due to fair valuations,” he added.
Data from National Securities Depository Limited (NSDL) shows that the debt market has also seen significant FII interest, with a total of Rs. 112,409 crore has been invested.
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In early 2025, a possible resurgence of selling pressure in equity markets.
“FIIs may again turn sellers into equities in early 2025 as dollar appreciates (dollar index above 108) and US 10-year bond yield attractive at around 4.4%,” believes Vijayakumar.
He also noted that FIIs are likely to return as buyers when there are clear signs of growth and earnings recovery in the Indian economy.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
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