Power, IT, capital goods stocks attract highest FPIs flows, shows data

Foreign portfolio investors (FPIs) preferred stocks in the power and capital goods space, while pruning exposure to metals and financial stocks during the second half of last month. FPIs were net buyers of power stocks worth Rs 9,357 crore, capital goods worth Rs 5,878 crore, and information technology worth Rs 3,717 crore, according to data collated by primeonfobase.com. FPIs were net buyers to the tune of Rs 11,526 crore in the second half of August.

“The peak power requirement is at a record high, and the merchant value is likely to go up. IT stocks are a consequence of the value hunt by investors.