As foreign funds flee amid uncertainty, domestic investors seize the Nifty dip
Live MintAfter a year of stellar returns, the Nifty 50’s \momentum appears to be losing steam, with gains tapering off over the past week. On Monday, as the benchmark Nifty 50 fell nearly 2%, DIIs stepped in with net purchases of ₹2,936 crore, while foreign institutional investors sold ₹4,330 crore in Indian equities. In October, DIIs purchased ₹104,876 crore in Indian equities, marking their highest monthly inflow since 2017, while FIIs net sold ₹87,590.11 crore of Indian shares. Jiten Doshi, co-founder and chief investment officer at Enam AMC, said DIIs are, by default, heavy on Indian equities and are “long-term investors with near-predictable inflows visibility in the short term". While valuations have moved up, Indian equities continue to remain exciting due to their long-term growth prospects, said Hari Shyamsunder, vice president and institutional portfolio manager–emerging markets equity India, at Franklin Templeton.