Indian equities ended October higher after two monthly declines, while reported foreign portfolio investor (FPI) totals still showed net selling, underscoring the difference between late buying and the month’s overall flows.
Mint reported that the Sensex gained 2.7% and the Nifty 50 rose 1.9% in October. It said those gains followed declines in August and September: the Sensex fell 5.8% in September and 1.5% in August, while the Nifty 50 dropped 6.1% and 1.2%, respectively. On Friday, Oct. 30, the Sensex closed at 74,459.53, up 0.42%, and the Nifty 50 ended at 23,053.10, up 0.51%.
Mint reported more than ₹14,000 crore in FPI equity purchases during its reporting week, including primary-market investments. A FundTracker India series based on National Securities Depository Ltd. (NSDL) daily data recorded net foreign buying of ₹14,171 crore from Oct. 23-29.
The reported October outflow totals differ. Mint, citing NSDL, put net FPI equity sales at ₹34,843 crore but did not specify its data cutoff. FundTracker India’s NSDL-based series showed net sales of ₹34,040 crore through Oct. 29. The sources do not explain the difference.
Higher oil costs may squeeze margins at paint makers, chemical companies, tire producers and airlines, especially when they cannot pass on added input and transport expenses, Vinit Bolinjkar, head of research at Ventura, told Mint. “I would call it a rebound for now, not yet a trend,” he said.
The U.S. Energy Information Administration’s latest daily Brent spot observation available in its Oct. 28 release was $123.10 per barrel for Oct. 27. The agency listed Wednesday, Nov. 4, as the date of its next release.
