New Delhi, Aug 5 After sustained buying for three months, FPIs have turned sellers in the Indian market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
During the last seven trading sessions FPIs sold stocks worth Rs 8,545 crore in the cash market. Sharp spike in the US 10-year bond yield above 4 per cent is a near term negative for capital flows to emerging markets, he said.
During the last three months, FPIs have been sustained buyers in the Indian market having invested a cumulative amount of Rs 1,37,603 crore.
If the US bond yields remain high FPIs are likely to continue selling or at least refrain from buying, he said.
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