Selling of foreign investors
In September, foreign portfolio investors (FPI) were pure seller in the Indian stock market, in which he sold shares worth Rs 23,885 crore. According to depository data, this year FPI has sold a total of Rs 1.58 lakh crore. This is the third consecutive month when the FPI carried out heavy withdrawal, before Rs 34,990 crore was sold in August and Rs 17,700 crore in July.
The head of the Morningstar Investment Research India, Manager Research, Himanshu Srivastava said that there are many reasons behind recent selling, such as the US imposes 50% fee on India and a lump sum of US $ 1 lakh in the H-1B visa fee. In addition, the money risk increased by reaching a record low of the rupee, and the FPI turned to other Asian markets due to high evaluation of Indian equity. However, some analysts believe that despite the current selling, the situation may gradually be in India’s favor.
Senior Fundamental Analyst Waqjaved Khan, senior Angel One, said that the evaluation has now become more balanced, and factors such as the deduction and increase in GST rates like pro -monetary policy can again attract the attention of foreign investors.
Stock market performance
Foreign investors are not confident of selling the Indian market because there is an atmosphere of global tension. Because the performance of the Indian market has improved day by day. The main index of the market closed up a week. At the same time, due to this, the price of gold and silver was also seen. The prices of gold and silver increased in the meantime. The matter of the market, the BSE Sensex gained 780.71 points or 0.97 percent last week and the Nifty rose by 239.55 points or 0.97 percent. At the same time, the market closed up rapidly on the last trading day of the week i.e. Friday. The Sensex rose by 223.86 points to close at 81,207.17.