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FPI money pivoting towards Consumer centric sectors

ICICIdirect Research 04 Sep 2026 DISCLAIMER

Foreign Portfolio Investors (FPIs) continued their buying spree for the fifth fortnight, with total net monthly equity inflows of ~₹23k crores. Since Mid-June, they have deployed more than 65k crores in equities. However, relative underperformance of Nifty is led by select heavyweights whereas broad markets continue to do well with midcap and small cap indices testing life highs.
After months of persistent offloading, FPIs seems to be returning towards Financial Services (₹10k+ crore during the month) along with the healthcare (6k Cr) and consumer durable (4k Cr).  While the consumer services (8.5k Cr) also saw meaningful inflows, it seems like MSCI inclusion of many stocks have played the part.
On the other hand, Technology space saw another fortnight of flows suggesting worst is behind the sector. The major change is also seen in the capital goods segment where after last few months of continued selling, renewed buying was observed.

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