FPIs remain buyers of Indian equities; invest Rs 10,850 cr in just four trading sessions


PTI, May 7, 2023, 11:19 AM IST

Foreign portfolio investors (FPIs) continue to be buyers of Indian equities in May and invested Rs 10,850 crore in the last four trading sessions due to the country’s stable macroeconomic environment, robust GST collection and better-than-expected corporate quarterly earnings.

This came following a net infusion of Rs 11,630 crore in equities in April and Rs 7,936 crore in March, data available with the depositories showed.

The March investment was mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow is negative.

Going forward, the appreciation in the rupee and good fourth-quarter results will aid in increasing capital flows to India, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

According to data from the depositories, FPIs invested a net sum of Rs 10,850 crore in Indian equities in the last four trading sessions during May 2-5.

”FPIs would have been drawn to Indian stocks by the country’s stable macroeconomic climate, strong GST collection figures, and better-than-expected corporate results,” Himanshu Srivastava, Associate Director – Manager Research, Morningstar India, said.

In addition, recent market volatility and sporadic corrections, as well as the stability of the global financial system, improved investor mood, thereby triggering inflows, he added.

Geojit’s Vijayakumar said India outperformed most markets in April. The principal reason for the outperformance is the sustained buying by FPIs.

On the other hand, FPIs pulled out Rs 2,460 crore from the debt market during the period under review.

In terms of sectors, FPIs made large purchases in financial services and continued buying capital goods in the second half of April. However, they were big sellers in IT.

So far this year, FPIs have taken out Rs 3,430 crore from equities and invested Rs 1,808 crore in the debt market.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Teen stabs man to death at railway station in Mumbai after quarrel over local train seat

BJP stages protest against Karnataka govt over Waqf properties row

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

10 month baby gets new heart, new life

Related Articles More

Baku climate talks: The ‘X’ factor that could determine future of Global South

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra

RBI cautions public about ‘deepfake’ video of governor being circulated on social media

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Teen stabs man to death at railway station in Mumbai after quarrel over local train seat

War has endangered future of 2.5 billion children of world: UP CM Adityanath

UP man gets 10-yr jail term for murder attempt on father

Cement mixer truck overturns near Ambagilu

SC notice to Gujarat govt on Asaram’s plea seeking suspension of sentence in 2013 rape case

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.