There is no evidence that FIIs are buying

After a record 38 days of selling, foreign portfolio investors (FPIs) returned to the market on November 25, buying nearly Rs 10,000 crore worth of shares, according to provisional data. The market also gained 1.25% that day, partly due to the BJP-led NDA’s win in Maharashtra. Some investors saw this as a sign of FPIs making a strong comeback after the recent market correction. However, a closer look suggests otherwise.