FIIs continue to sell in the debt markets in India, while they shower money on equities. With more than 10,000 cr. sold in debt in October, FII flows are flat for the month.
FIIs have already sold more debt (net of purchases) than all but the “bad” months of June and July 2013. In the last five months, FIIs have sold 69,000 cr. worth rupee debt, which is about $12 billion.
In the longer term, October is the third worst month ever, it seems.
Meanwhile the Nifty is close to hitting new highs. I wonder whether the sharp selling in bond markets will affect equities eventually, or will that reverse back as well?
