FPIs turn buyers in IT stocks for first time in 2026, invest Rs 3,358 crore in July

FPIs turned net buyers of equities worth ₹4,640 crore in the second half of July, adding to ₹15,560 crore in the first fortnight, according to NSDL data. July was only the second month of net inflows since February.

"It seems like money is slowly moving into broad markets from the index heavyweights," said Pankaj Pandey, head of fundamental research at ICICI Direct, pointing to Nifty hovering around 24,000 while midcap and smallcap indices scaled fresh highs. The Nifty 50 and Sensex gained nearly 2.1% each in July, while the Nifty Midcap 150 and Smallcap 250 rose 1.6% and 1.1% respectively.

"Domestic demand remains the clearest theme based on the latest trend," said Raj Gaikar, research analyst at Samco Securities, referring to flows into consumer durables, consumer services and healthcare for three consecutive fortnights.

Vikas Gupta, CEO at OmniScience Capital, said the shift may reflect tactical trades. "The current selling of financial services and buying into IT could be reflecting a short-term trade. There is significant uncertainty about medium-term revenues and profits of IT companies, while financial services show clearer growth visibility."

Gaikar said while pressure in IT has eased, he would wait a few more fortnights before calling a bottom for these stocks.

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