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Healthcare also ranked among the top three sectors with highest inflows from foreign portfolio investors, according to data from the National Securities Depository Ltd.
Overseas investments into Indian stocks turned positive on November with an inflow of Rs 9,001 crore as U.S. Treasury yields softened and the domestic market stayed resilient. Inflows stayed negative for the fifth consecutive fortnight in the first 15 days of November but turned positive because of buying in the second half of the month. But eventually turned positive by the end of the month, according to data from the National Securities Depository Ltd.
Foreign investors have bought Indian equities worth approximately Rs 1.26 lakh crore so far this year.
Sectors like capital goods and consumption may attract more flows due to the government’s emphasis on capital expenditure and rural spending ahead of the Lok Sabha election next year, Kunal Sodhani, vice president, Shinhan Bank (Global Trading Centre) said. “Also, it is important not to miss out on the banking sector.”
Consumer Services witnessed the largest inflow of $525 million or Rs 4,370 crore in November. That compares with an outflow of $22 million in October. The sector has contributed 11.28% of the total inflows this year.
India has seen strong services activity, helping attracts FPI inflows towards the consumer services sector, Sodhani said. Revenue growth has been seen decent as well, he said.
Capital goods witnessed the second largest inflow at $428 million or Rs 3,571 crore. In October, the sector saw an inflow of $103 million or Rs 857 crore.
Healthcare saw the third-largest inflow of $179 million or Rs 1,493 crore as overseas investors turned buyers. The sector witnessed an outflow of $130 million in October.
Financial services saw the largest outflow at $479 million or Rs 3,993 crore. That, however, narrowed from an outflow of $1,418 million or Rs 11,801 crore in October.
Overseas investors turned sellers in financial services in August after nine straight fortnights of buying.
In November, the Nifty Financial Services Index rose 5.24%.
Power witnessed the second-largest outflow at $355 or Rs 2,952 in the month. In previous month, the sector witnessed an outflow of $355 million.
The sector recorded the third-largest outflow at $204 million or Rs 1,699 crore compared with an outflow of $355 million in the prior month.
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