India Briefings

Financial institutions sell their shares in February on a net basis

<p>Foreign Institutional Investors (FII) sold shares in financial services at a netting value of Rs 7,536 crore in the first two weeks of February.</p>
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<p>As of February 15, FIIs had assets under custody (AUC) of Rs 68.04 lakh crore, of which Rs 62.84 lakh crore were in equity.</p>
<p>Shares worth Rs 3,766 crore and Rs 4,251 crore, respectively, were sold by the telecom and construction industries. Based on the monthly sector-wise statistics from the National Securities Depository, significant selling was also seen in fast-moving consumer goods (FMCG) at Rs 3,011 crore, electricity at Rs 2,895 crore, metal at Rs 1,067 crore, and chemicals at Rs 790 crore.</p>
<p>The statistics also said that during this time, there were net foreign direct investments (FII) inflows into the consumer services, healthcare, IT, and automotive sectors.</p>
<p>After consumer services and IT, which brought in Rs 3,240 crore and Rs 3,041 crore respectively, healthcare brought in around Rs 4,212 crore.</p>
<p>Purchases of Rs 2,539 crore, Rs 1,976 crore, Rs 1,035 crore, Rs 921 crore, and Rs 574 crore were made in the automotive and auto component, services, oil, gas, and consumable fuels, capital goods, and real estate sectors, respectively.</p>
<p>Interestingly, $3.5 billion in Indian equity has been sold by foreign portfolio investors so far in 2024; but, a large portion of that loss has been offset by robust inflows from inside the country, high net worth people, and individual retail investors purchasing stocks and mutual funds.</p>
<p>A record Rs 18,838 crore was invested via SIPs in mutual funds in January, mostly in mid- and small-cap equities.</p>

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