FPIs Turn Bullish On Financials, Cut Exposure To FMCG And Power In June’s First Half

FPI Sector-Wise Data: Foreign Portfolio Investors (FPIs) turned bullish on the Financial Services sector in the first half of June, and reduced their exposure to the Fast Moving Consumer Goods (FMCG) and the Power sectors. Data from National Securities Depository Limited (NSDL) showed that FPIs bought Rs 4,685 crore worth of Financial Services stocks, taking their total investment in the sector to Rs 21,37,234 crore. This amount represents nearly 30 per cent of all equity investments by FPIs in India. As of June 15, FPI’s total assets under custody (AUC) in Indian equities stood at Rs 71,51,924 crore.

Following the Financial Services sector, FPIs were also net buyers in Chemicals, Oil and Gas, and Capital Goods sectors, buying shares worth Rs 1,405 crore, Rs 1,199 crore, and Rs 1,191 crore, respectively during June’s first fortnight. Realty and Services sectors too saw FPI buying worth Rs 431 crore and 403 crore, respectively.

As of June 15, FPIs AUC for Chemicals stood at Rs 1,31,258 crore, for Oil and Gas it was Rs 5,15,705 crore, and for Capital Goods it was Rs 3,79,132 crore. Realty and Services sectors AUC stood at Rs 1,56,167 crore and Rs 1,61,120 crore, respectively.

At the same time, FPIs pulled out their investments in Power and FMCG sectors. From Power, FPIs offloaded Rs 3,120 crore, taking their AUC for the sector to Rs 2,43,253 crore. From FMCG, FPIs sold shares worth Rs 3,626 crore, pulling their AUC for the sector down to Rs 3,77,744 crore.

FPIs Net Sellers In June So Far

FPIs have been net sellers in Indian equities so far in June, snapping a two-month buying streak seen in April and May.

In the first half of the month, FPIs offloaded Rs 5,401.61 crore from both the primary and secondary market, data from NSDL showed. The selling continued into the second half, with FPIs selling Rs 373.65 crore on June 16 and Rs 2,674.46 crore on June 17. However, on June 18, FPIs turned net buyers, pumping in Rs 2,788.27 crore. Despite the brief buying, the overall FPI activity in June remains in the red, with month-to-date net outflow still standing at Rs 5,661.45 crore.

Prior to this, FPIs had bought Rs 4,223 crore worth of shares in April and Rs 19,860 crore in May.