FIIs returned in October, net purchase at over Rs 15,000 cr

Mumbai, Nov 1 : After a subdued September, Indian equity market returned to its upward trajectory in October, with foreign institutional investors (FII) also making a comeback.
An Angel Broking report said that FIIs were net buyers in equities worth Rs 15,408 crore in October.
The report, however, said that the FIIs preferred lightening up their long positions in index futures segment due to the upcoming event of the US Presidential election and the Bihar Assembly election.
“Post some pause in the September series, the benchmark index once again resumed its uptrend seen from the April series. The October series brought back some optimism as we saw a V-shaped recovery in the first half of the series,” said the ‘Rollover Report for October 2020-November 2020’.
“As we progressed, Nifty slipped into a consolidation phase to eventually conclude the series tad above 11,650 mark. The banking index outperformed the benchmark by clocking a handsome 17 per cent gains series on series.” Rollover in Nifty stood at 77 per cent, which is slightly above the three-month average of 76 per cent.