Zhitong Finance was informed that foreign investors are selling expensive Indian secondary market stocks, and instead invested in new stocks in the first -level market to seek lower investment costs and higher returns.So far, foreign investors have sold $ 3.42 billion in stocks in the secondary market.According to data from the Central Depository Services LTD., so far this month, they have purchased $ 1.47 billion in stocks through the Indian first -class market.Hyderabad Investment
The selling of foreign investors has been promoted by profit -making, due to a record high in the Indian stock market, and the valuation of more than most other major stock markets.Instead, investors have invested funds into the IPO market, because the IPO market valuation is low, and there are fewer competition for stocks.
A report from the French Industrial Bank showed that foreign investors bought more than $ 6 billion in stocks in the Indian market this year, the highest level since 2021."Foreign investors are unwilling to put their funds into the secondary market for a long time, and they have seen a better and faster return prospect in the first -level market.The reason is that the prospect of profit growth is slowLucknow Stock. "
India's benchmark stock index NSE NIFTY 50 index has risen 14%this year. According to LSEG data, its 12 -month price -earnings ratio of large and medium -sized stocks is 24 times, which is the highest in the world's major markets.At the same time, India's first -level market has always been very hot. Data from Dealogic shows that so far this year, India's IPO scale has reached $ 7.3 billion, ranking first in Asia.
After the Indian benchmark stock index NSE NIFTY 50 indexes have achieved a significant increase in the entire Asian stock market this year, as the US decline is expected to rise and the market is concerned about the "AI bubble", the sales of technology stocks have caused the global stock market.The Indian stock market with high valuation has become particularly cautious.At the same time, foreign securities portfolio investors (or FPI) have been selling Indian stocks in the cash stock market.As of August 13, after their positions increased by more than $ 6 billion in Indian stocks in June and July, they had reduced their holdings of nearly $ 2 billion in Indian stocks this month.
In the first comparison, foreign investors are attracted by cheap stocks in the Indian -level market.Jon Withaar, director of the Asian Special Situations, said that the valuation of the first -level market is often low because there is a lack of competition from retail investors, indexes, ETFs, and most types of institutional investors.
Michael Colllins, CEO of WinCap Financial CEO, said: "Companies with IPO or distribution of shares are often conservative to ensure successful issuance and attract more investors' interest. For foreign investors, lower valuations may also be regarded as regardedFor a chance, because they believe that these companies have the potential to grow significantly for a long time. "
As the Fed prepares interest rates, in order to enter a higher risk market to obtain higher returns, analysts predict that foreign investors will continue to hold Indian stocks through this channel.
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