ET Intelligence Group: The extent of foreign portfolio investors' (FPIs) outflows from the Indian equity market tapered in the first week of November and so did the buying by domestic funds. It followed an unusually busy October which recorded an unprecedented selling by FPIs and equally strong buying by local funds.In the first five trading sessions of November, FPIs sold equities worth ₹19,993.7 crore ($2,374.6 million) net according to the data from NSDL. This compares with a massive selling of ₹44,914 crore ($5,352.1 million) in the first five sessions of the previous month, forming nearly half of the total selling worth ₹94,017 crore ($11,195.4 million) for the whole month.Domestic funds purchased equities worth ₹6,988 crore in the first four sessions of November, according to data from the Securities and Exchange Board of India. They had invested ₹34,958 crore in the comparable period of the previous month or more than one-third of the total purchase worth ₹90,770 crore for the whole month.October was a record month for both, selling by FPIs and buying by local funds. FPIs were net sellers for 21 out of 22 trading sessions during the month, excluding October 22 when they invested ₹11,720.9 crore into the primary market thereby taking net equity inflow to ₹10,709 crore for the day. For the whole month, FPIs invested ₹19,841.9 crore in the primary market, which includes IPO and qualitative institutional buying (QIB) and sold ₹1,13,858.8 crore worth of equities in the secondary market.115157183So far in November, FPIs have been net sellers in the secondary market while being net buyers in the primary market in each of the five trading sessions. Domestic funds have been net equity buyers in three out of four trading sessions.Institutional fund flow is expected to remain volatile in the short term. Inflationary trends, second-quarter financial performance of the companies, and geopolitical situations will be the major factors affecting investment flows in the near term.
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