FPIs heavy buyers in primary market in November, shows data

The depository data for this month shows the net FPI buying was to the tune of over Rs14,000 crore in equities (until November 18). The net buy figure, however, is inclusive of the large primary market investment of Rs23,169 crore during this period. So, FPIs have actually offloaded stocks worth over Rs9,000 crore in the secondary market in November.

“For the first half of November, FPIs have been sellers in banking and even in performing sectors like IT. The trend indicates that FPIs are likely to turn sellers at every rise since most foreign brokerages have a sell call on India