Street signs: US election cloud on FPI flows, tech boost for L&T & more

Analysts expect the markets to remain upbeat until the presidential polls, but investors may be better off on the sidelines until then

US election cloud on FPI flows

Foreign portfolio investors (FPIs) bought equities worth $768 million over the past five trading sessions, even as domestic institutional investors (DIIs) sold $834 million in the same period. Indians in need of liquidity have been trimming their mutual fund holdings, which has led to the selling by domestic institutions. It remains to be seen if FPI flows will keep up as US presidential election approach. Discussions on the quantum of stimulus and the Covid-19 progression in Europe may be other factors that dictate FPI flows. Analysts expect the markets to remain upbeat until the presidential