FPI invested Rs 26,505 crore in the equity market in six sessions of December alone.
New Delhi: Foreign portfolio investors (FPIs) have invested Rs 26,505 crore in Indian equity markets in the first six trading sessions of this month. This is believed to be the effect of BJP’s election victory in three states and strong economic data. Earlier in October, FPI had made a net investment of Rs 9,000 crore.
Depository data shows that foreign investors had withdrawn Rs 39,300 crore from Indian markets in August and September. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said FPI investment inflows are likely to continue going forward.
According to the data, FPI has made a net investment of Rs 26,505 crore in Indian equities till the 8th of December. Kislay Upadhyay, founder, of Fidelfolio Investments, said the results of the assembly elections in Rajasthan, Madhya Pradesh, and Chhattisgarh played an important role in accelerating FPI inflows as it indicates political stability going forward.
Vijayakumar said, “Indications of political stability after the 2024 general elections, strong growth momentum in the Indian economy, the decline in inflation, continuous decline in US bond yields, and softening of Brent crude prices have changed the situation in favor of India.” Have given.”
Himanshu Srivastava, Co-Director – Research Manager, Morningstar Investment Research India, said that the US Federal Reserve has indicated to cut interest rates from the first quarter of next year, which indicates the end of the rising trend in interest rates. This change in stance has weakened the US dollar against other currencies. Apart from this, the fall in US treasury bond yields has inspired foreign investors to invest in Indian equity markets.
FPIs have again become buyers of leading banks where earlier they had remained sellers. Apart from this, buying is also being seen in big companies of information technology, telecommunication, automobile and capital products segments. In terms of bonds, FPIs invested Rs 5,506 crore in the debt market during the period under review. Before this, investment of six years’ highest level of Rs 14,860 crore had come in November and Rs 6,381 crore in October. Foreign investors have invested Rs 1.31 lakh crore in equity markets and Rs 55,867 crore in debt markets so far this year. Also, read this.
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