FIIs aid December recovery as they turn buyers, buy equities worth Rs 14,435 crore
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Foreign Institutional Investors (FIIs) returned as buyers in December after heavy selling in October and November, fueling the market's recovery from November lows, purchasing equities worth Rs 14,435 crore through exchanges as of December 13. The total FII buying, including exchange purchases and investments through the 'primary market and others' category, reached Rs 22,765 crore as of December 13, according to NSDL data. This robust buying activity has sparked a rally, particularly in large-cap stocks, with the banking and IT sectors witnessing significant gains. “Even though FIIs have turned buyers in December, they have been large sellers,too, on certain days. This indicates that at higher levels, they may again turn sellers since Indian valuations continue to be relatively high compared to other markets,” said V K Vijayakumar, Chief Investment Strategist of Geojit Financial Services. Rising dollar is another concern whic...