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Financial sector attracts bulk of FPI inflows in the first half of July

Meanwhile, chemical stocks saw selling worth Rs 207 crore, followed by metals and mining (Rs 157 crore) and textiles (Rs 156 crore)

FPI

Sundar Sethuraman

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Foreign portfolio investors (FPIs) were high on financial services, oil, gas and consumable fuels, fast-moving consumer goods (FMCG), power and capital goods in the first half of July.

FPIs invested Rs 7,050 crore in financial services, Rs 3,891 crore in oil, gas and consumable fuels, and Rs 3,791 crore in FMCG goods, according to data collated by Primeinfobase.

“The tailwind for the financial services industry is very strong. Credit growth is in double digits, quality of assets is at a record high, and results of the banking sector were good too," said G.Chokkalingam, founder of Equinomics.

Meanwhile, chemical stocks saw selling worth Rs 207 crore, followed by metals and mining (Rs 157 crore) and textiles (Rs 156 crore).

"Realisations in the chemicals sector continue to be under pressure, reflected in the quarterly results,” said Chokkalingam.

Forest materials (Rs 115 crore) and information and technology (Rs 56 crore) were the other sectors where foreign investors sold shares.

FPIs bought shares worth Rs 30,662 crore on a net basis in the first fortnight of July. Since then, they have extended their investment tally to nearly Rs 47,000 crore this month.

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First Published: Jul 27 2023 | 9:18 PM IST

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