Rs 2,400 crore damage! FPIs enter reverse mode on Dalal Street; will they move equipment?

After the ruthless purchasing in December, foreign portfolio financiers took the sluggish lane on Dalal Street in January, eventhough markets struck record highs. Information revealed that foreign portfolio financiers turned net sellers of equities in the last week after being net purchasers in the secondary market in the preceding week. FPIs net offered Indian equities worth Rs 2,477 crore in the secondary market recently, according to information on Stockedge. They had net purchased shares worth Rs 4,436.05 crore in the week ended January 5. Regardless of selling by the huge bulls, benchmark Nifty 50 clocked weekly gains of around 1% and likewise scaled a life time high of 21928.25 points on Friday. The gains in the index were mainly driven by infotech stocks following their December quarter profits, heavyweight Reliance Industries, and a couple of banking stocks. Eventhough FPIs decreased purchases in January, 2023 was the year that markets saw the highest-ever foreign inflows. FPIs purchased Indian equities worth Rs 1.77 lakh crore in 2023, the highest-ever by them in history, in rupee terms. And, practically one-third of the inflows came just in December, which was likewise the greatest inflows in a month in 2023. Even more, nearly 45% of the overall inflows in December entered into just the monetary sector, and after that to the IT sector. Regardless of the downturn in inflows this month
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