FPIs warm up to finance and FMCG stocks in December, shows data

Rising credit growth, falling NPAs responsible for the pivot

The stocks of financial services and fast-moving consumer goods (FMCG) companies accounted for the maximum foreign portfolio investor (FPI) buying during the second fortnight of December last year.

FPIs bought finance stocks worth Rs 2,806 crore, and FMCG shares worth Rs 1,370 crore, according to data collated by PRIME Infobase.

Consumer services (Rs 974 core), metal and mining (Rs 277 crore), and power (Rs 177 crore) were the other sectors FPIs parked their money in the last two weeks of December 2022.

Rising credit growth and falling non-performing assets are attributed as reasons for the bullishness towards finance stocks.

FMCG