FPI inflows hit 10-mth high of Rs 47,148 cr in June

New Delhi Foreign Portfolio Investors (FPIs) have pumped Rs47,148 crore in the Indian equities in June, making it the highest inflow in 10 months, enthused by India’s steadily improving macroeconomic fundamentals.

However, inflows in July may be subdued as FPIs might adopt cautious stance due to the recent comments from the US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said. Besides, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective. According to the data, FPIs invested a net sum of Rs 47,148 crore in Indian equities in June. This came after a net investment of Rs43,838 crore in equities in May, Rs11,631 crore in April and Rs7,936 crore in March, data with the depositories showed. Before that, FPIs pulled out over Rs34,000 crore from equities in January and February.