Where’s money flowing? FIIs sell financial services, buy IT, oil and gas
Information Technology, Oil and gas, telecommunications and power saw the most inflows from foreign institutional investors between 15 and 31 January 2024. Financial services, fast-moving consumer goods ( FMCG), services, metals and mining and consumer durables witnessed outflows, as per data analysed by YES Securities.
“The rally in Indian Oil & Gas PSU is based on many favourable factors that have gotten even better: 1) Oil price in a range of $74-84/bbl despite disruptions and OPEC+ cuts 2) No govt intervention on any policy impacting the sector at large, no fuel retail price cut announcements; 3) Higher global petroleum product demand given the shortage, which keeps cracks on the higher side,
