The Foreign Portfolio Investors (FPIs) continue to influence Indian stock markets however the extent of their impact on major indices has reduced over time, says a report by ICICI Mutual Fund.
Domestic stock markets saw selling pressure on Thursday due to the decline in tech heavyweight stocks, lack of major global cues, and weak Asian market.
Indian stock markets opened flat on Thursday amid selling pressure in other Asian markets. However, a buying trend was observed due to the return of foreign investors.
Bearishness in the Indian stock markets seemed to be over, with the indices trading in the green for three out of four sessions. Yesterday, they were steady.
Indian stock indices closed largely steady on Tuesday, snapping the uptrend they witnessed for the past two sessions.
The recent jump, barring today, helped indices recover some of the recent losses. Indices gained nearly 4 per cent over the past couple of sessions.
Sensex closed at 80,004
Despite a period of high selling pressure in the stock markets since October, over 13 lakh new investors joined the Indian stock market, according to the latest data released by the National Stock Exchange (NSE).
Foreign portfolio investors (FPIs) are on course to turn net sellers in Indian stock markets for the second straight month through November, after having remained net buyers four months on a trot until September.