Vinit Bolinjkar, Head of Research- Ventura Securities, said, “FPIs continued their inflows during the first four days of the current week, investing Rs 15,122 crore, buoyed by the recent Fed rate cut. Similarly, DIIs infused Rs 18,480 crore this month until September 26, with Rs 9,075 crore contributed in the first four days of this week.”
Bolinjkar added that despite a six-day positive rally, the Nifty closed in the red on Friday, indicating signs of weakness. He expects the Nifty to trade sideways or potentially see further declines, driven by profit booking resulting from the high valuations of Indian equities.
So far in CY24, FPIs have been net sellers in January, April and May. They made a big comeback in June and July after election-related concerns subsided and Indian markets saw another phase of a bull run.
