Buying by Foreign Portfolio Investors (FPIs) in the last few days in November has skyrocketed, ahead of the outcome of the US election results. The expectation of a Biden Presidency has led to some huge buying in stocks in the last two days. In fact, on November 5, FPI invested an overwhelming Rs 5,368 crores and on November 6 their net investment totalled a solid Rs 4,869 crores, according to the stock exchange data.

Further buying likely it is possible that Foreign Portfolio Investors would continue to buy in the next few days, even though domestic institutional investors have been net sellers in the market. The buying is largely on the back of robust global cues.

The buying of the last few months has boosted the markets to a near-record high. In fact, the indices are barely 2 percent away from making record highs. In the next few days, it is vastly possible that the markets hit a new record high, outdoing their previous levels in what has been a highly volatile market this year.

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