“FIIs continued their promoting spree in November, too. A perplexing function of the latest FII exercise is their extremely erratic nature. As an illustration, within the three days from 23th via twenty fifth November, FIIs have been patrons. However within the subsequent two days FIIs once more turned large sellers having bought fairness for Rs 16,139 crore,” mentioned Dr. V Ok Vijayakumar, Chief Funding Strategist, Geojit Monetary Companies.
He mentioned the tempo of sell-off lowered in November partly as a result of lowered valuations brought on by the correction available in the market.
“The pattern of FII shopping for via the first market continues. In November FIIs purchased shares for Rs 17704 crores via the first market. If we take the interval as much as November twenty ninth 2024 the overall FII promoting for the yr stands at Rs 118620 crores. Throughout this era FIIs purchased fairness for Rs 103601 crores via the first market,” Vijayakumar mentioned.
Will FIIs return to Dalal Road in December?
Whereas traders are hoping for a Santa rally subsequent month, each valuations in addition to earnings have made the market outlook weaker. The Q2 GDP progress of 5.4%, which was decrease than anticipated, has solely added to the macro worries for traders.FII circulation in 2024 has turned unfavorable with an outflow of about Rs 19,000 crore with analysts saying that international capital will chase Indian shares solely when the market corrects additional and valuations turn into engaging.Within the final 10 years, FII circulation has been constructive 6 occasions within the month of December.
