FPIs cut back on FMCG, auto, financial services shares
Foreign portfolio investors (FPI) sold shares worth ₹12,514 crore across 11 sectors in the March 16-31 period. Apart from FMCG, automobiles, financial services and consumer durables sectors saw heavy selling by foreign investors. The automobiles sector witnessed profit booking worth ₹2,085 crore between March 16 and 31, after inflows worth ₹3,697 crore in the first-half of the month.
Mumbai: Fast-moving consumer goods () saw the highest selling by in the second-half of March. Foreign funds dumped shares worth ₹4,939 crore in the sector after buying worth ₹11,180 crore during the first-half of the month as per data from National Securities Depository Ltd (NSDL). The sector witnessed outflows worth ₹4,472 crore in February.Foreign portfolio investors (FPI) sold shares worth ₹12,514 crore across 11 in the March 16-31 period. Apart from FMCG, automobiles, and consumer durables sectors saw heavy selling by foreign investors. The sector witnessed profit booking worth ₹2,085 crore between March 16 and 31, after inflows worth ₹3,697 crore in the first-half of the month.
Agenciesoffloaded shares worth ₹1,900 crore and ₹1,175 crore in financial services and consumer durables, respectively.
Oil & gas and IT saw additional outflows worth ₹1,169 crore and ₹555 crore, respectively, over ₹1,110 crore and ₹1,104 crore in the first- half of the month.
Overseas investors were buyers of to the tune of ₹6,901 crore in the second-half of the month. Foreign investors continued their buying in the telecommunications sector with an investment of ₹1,319 crore for the period between March 16 and 31 after buying over ₹6,000 crore in the first-half of the month. They sold shares in the sector worth ₹3,933 crore in February.
FPIs infused additional funds in the capital goods, and metals & mining sectors worth ₹951 crore and ₹931 crore, respectively, over the inflows in the first-half of the month.
Source: Stocks-Markets-Economic Times
