FPIs continue bets on Indian equities
Foreign Portfolio Investors (FPIs) continue their liking for Indian equities with a net infusion of nearly Rs 22,000 crore in the first week of this month due to resilience of the domestic economy amid an uncertain global macro backdrop.
New Delhi Foreign Portfolio Investors (FPIs) continue their liking for Indian equities with a net infusion of nearly Rs 22,000 crore in the first week of this month due to resilience of the domestic economy amid an uncertain global macro backdrop.
If this trend continues, investment by FPIs in July will exceed the figures recorded in May and June, which were Rs43,838 crore and Rs47,148 crore, respectively, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said that FPIs may take some money off the table to maintain caution as concerns over interest rate hikes by the US Federal Reserve in July once again come up. According to data from the depositories, FPIs have been continuously buying Indian equities since March and poured Rs21,944 crore this month (till July 7). Before March, overseas investors pulled out Rs34,626 crore collectively in January and February. Kotak Securities’ Chouhan said that India’s emergence as a strong growth-oriented market over others provides major confidence to overseas investors.