The surge in FPI inflows during December 2023 which stood at Rs 58,372 crore, slowed down in early January 2024, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
As per NSDL data, total FPI investment through the stock exchanges as of January 13 is Rs 2,743 crores, he added.
In December, FPIs were big buyers in financial services and also in IT. FPIs also bought in sectors like autos, capital goods, oil and gas and telecom, he added.
This trend is likely to continue, going forward. S
ince 2024 is expected to witness further declines in US interest rates, FPIs are likely to increase their purchases in 2024 too, particularly in the early months of 2024 in the run up to the general elections. FPI investment in debt is likely to accelerate, going forward, he added.