Which stocks foreign investors sold last month? Here are some cues


NEW Delhi: While foreign outflows intensified only in the second half of November, data available for the first fortnight of November suggests the institutional class further cut exposure to banking names and booked profits in IT, utilities and FMCG stocks. Metals and pharma were some other sectors where FPI selling was observed in the initial days of the month.

The market benchmark Nifty50 rose 2.38 per cent in the first 15 days of November, only to see a 6.2 per cent correction in the later part of the month.

FPIs, who sold Rs 771 crore worth of banking shares in the fortnight ended October 31, were net sellers to the tune of Rs 5,221 crore in 15 days to November 15. FPIs held banking shares worth Rs 8,93,454 crore as of November 15 compared with Rs 9,07,747 crore as of October 31, down 1.57 per cent.

These institutional investors sold some Rs 1,586 crore worth shares in the household & personal products sector in the fortnight ended November 15, in addition to Rs 1,468 crore in the previous fortnight. FPIs held Rs 1,65,629 crore worth shares in the household & personal products sector, down 0.94 per cent over Rs 1,67,215 crore as of October 31.

They booked profits in software & services stocks, as IT stocks kept on rising on earnings visibility. Net outflows in the IT sector stood at Rs 1,306 crore, which was in addition to Rs 5,382 crore outflows in the fortnight ended October 31. But thanks to buying in IT counters, FPI holding of IT stocks jumped by Rs 35,909 crore or 5.36 per cent to Rs 7,05,487 crore from Rs 6,69,578 crore as of October.

FPIs also booked profit in utilities to the tune of Rs 1,000 crore. Their exposure to utility stocks increased to Rs 1,75,428 crore from Rs 1,66,468 crore. Oil & gas stocks continued to be on FPI sell radar. They sold Rs 929 crore worth of oil & gas stocks in the fortnight ended November 15 compared with Rs 762 crore outflows in the fortnight ended October 31. Yet their asset under custody (AUC) rose to Rs 5,18,679 crore from Rs 5,04,592 crore.

Sectors like food, beverages & tobacco, pharmaceuticals & biotechnology and metals & mining saw FPI outflow in the first two weeks of November. Among them, FPI’s assets in pharma and metals also got trimmed. In food, beverages & tobacco sector, FPI selling reduced to Rs 884 crore in the fortnight ended November 15 from Rs 1,226 crore outflows in the previous fortnight, but their AUC rose.

Chemicals & petrochemicals and construction materials, meanwhile, were two other sectors where they sold shares.

Read original article here

Denial of responsibility! Verve Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment