FII DII data: FPI bought shares worth Rs 1785.21 crore, DII purchased shares worth Rs 529.47 crore on Feb 1 Foreign institutional investors (FII) bought shares worth a net Rs 1785.21 crore while domestic institutional investors (DII) purchased shares worth a net Rs 529.47 crore on Wednesday, February 1, 2023, according to the data available on NSE. In the month of January, FIIs sold shares worth a net of Rs 41,464.73 crore while DIIs purchased equities worth a net of Rs 33,411.85 crore. Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors — foreign institutional investors (FIIs) and domestic institutional investors (DIIs) — can impact the economy’s net investment flows. “Union Budget 2023 turned out to be excellent from the market perspective. Fiscal prudence, the clear glide path for fiscal consolidation, massive capex of Rs 10 lakh crores, relief to income taxpayers, credible growth and tax projections for FY24 and above all the growth orientation of the Budget make it market-friendly. The excessive volatility triggered by the crash in Adani stocks will die down after some time. FIIs will have to invest in India if they are to benefit from the India Growth Story. Meanwhile, the situation in the mother market of the US is slowly improving. The expected reduction in rate hike to 25bp and the slightly less hawkish commentary are positive for global equity markets. Investors may do calibrated buying in high-quality large-caps. IT and capital goods stocks are on a strong wicket,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Logistics, good or bad, are driven by the states and the commerce ministry has a LEADS (Logistics Ease Across Different States) report, based on perceptions. The 2023 version was released in December. Since states are heterogenous, in the reporting, they are divided into four groups—coastal, landlocked, north-east, and UTs. States that do well are called achievers. Nomenclature matters. Thus, states that are middling aren’t called average. They are called fast movers. States that are sub-par are called aspirers. Let me highlight coastal states, since 75% of export cargo is estimated to originate from them. Among coastal states, ones that do well are Andhra Pradesh, Gujarat, Karnataka, and Tamil Nadu. The ones that lag are Goa, Odisha, and West Bengal. While India’s logistics performance may have improved over time, that’s not true of every state. Some have slipped. Most states have a state-level logistics policy, including Goa and Odisha. West Bengal, bottom of the pecking order in the coastal category, doesn’t have one. To quote from LEADS 2023, “Looking ahead, the State (West Bengal) could benefit from formulating a State Logistics Master Plan and State Logistics Policy to drive efficiency improvements and facilitate investments within the logistics sector and undertake consultation with the logistics stakeholders for educating and informing them about the initiatives State is undertaking for the development and improvement of logistics sector.”
Logistics has been talked about for a long time and India has also focused on improving performance. We are now getting some precise data on measurement and quantification. That helps.
Bibek Debroy, chairman, EAC-PM. Views are personal.
2. Warren Buffett talked about his business partner Charlie Munger in his letter. He said they both think alike but what it takes Warren Buffett a page to explain, Charlie Munger sums up in a sentence. Charlie Munger’s version, moreover, is always more clearly reasoned.
The lesson for investors: “I will add to Charlie’s list a rule of my own: Find a very smart high-grade partner – preferably slightly older than you – and then listen very carefully to what he says,” Warren Buffett said.
3. Warren Buffett emphasised that his long-time business partner Charlie Munger and he are business pickers, not stock pickers. He further said that efficient markets exist only in textbooks.
“We own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business pickers,” Warren Buffett said.