FPIs continue to sell stocks in oil, auto, power, FMCG sectors; January net sales near $1 bn mark

FIIs maintained a buying stance in the information technology (IT), healthcare, services, textiles, consumer services, capital goods, and construction sectors

Foreign investors continued offloading shares in sectors like oil & gas, automobile, power, and fast-moving consumer goods (FMCG) sectors during the second half of December, following net selling trend in these sectors during the first half of the month.

FPIs also shifted from buying to selling in the financial and telecom sectors during the second half of December while continuing their buying stance in segments like IT, healthcare, services, textiles, consumer services, capital goods, and construction sectors.

In the oil & gas sector, FPIs sold shares worth approximately Rs 5,489 crore in the second half of December, slightly higher when compared to Rs 5,337 crore selling in the first half. Similarly, in the automobile sector, FPIs offloaded shares worth Rs 2,548 crore in the second half, following sales of Rs 1,823 crore in the first half.

The power sector saw FPIs selling Rs 1,310 crore in the second half after divesting Rs 552 crore earlier. In the FMCG segment, sales amounted to Rs 1,134 crore in the latter half of December, down from Rs 1,655 crore in the first half.

Conversely, FPIs shifted from buying to selling in the financial and telecom sectors during the second half of December. The financial sector witnessed net sales of Rs 4,338 crore after purchases worth Rs 7,434 crore in the first half. In the telecom sector, FPIs sold Rs 255 crore in the second half, reversing their Rs 627 crore of purchases from the first half of December.

Meanwhile, overseas investors maintained a buying stance in the information technology (IT), healthcare, services, textiles, consumer services, capital goods, and construction sectors.

In IT, FPIs invested Rs 2,296 crore in the second half of December, following purchases of Rs 6,754 crore in the first half. In healthcare and services, investments totalled Rs 1,850 crore and Rs 1,211 crore in the second half, compared to Rs 1,917 crore and Rs 553 crore, respectively, in the first half.

In the textiles, consumer services, capital goods, and construction sectors, FPIs bought shares worth Rs 751 crore, Rs 505 crore, Rs 471 crore, and Rs 260 crore in the second half, respectively following investments of Rs 138 crore, Rs 2,715 crore, Rs 2,657 crore, and Rs 1,148 crore, respectively, during the first half of December.

Meanwhile, in November and December, FPIs recorded net sales of Rs 21,612 crore and purchases of around Rs 15,446 crore, respectively. In the current year till date, FPIs have been net sellers at around Rs 7,160 crore.