WASHINGTON:Foreign portfolio investors (FPIs) have infused funds worth Rs 36,239 crore in Indian stock markets in the month of November and became net buyers again, data from National Securities Depository showed.
In September and October, they were net sellers amid the strong US dollar index, weak rupee, and tightening of monetary policy.
The latest inflow of funds has been supporting Indian stock markets.
Indian stock indices traded sharply higher on Thursday morning and hit their lifetime highs for the fourth straight day. Robust foreign fund inflows into Indian equities, the appreciating Rupee, and hints by the US central bank about the moderating rate of interest hikes supported the investors’ sentiment.
According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the current market fundaments are “hugely favourable” for the continuation of foreign fund inflows into India.
Coming back to foreign investors, barring July and August and November when they were net buyers, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for a year, which started in October 2021 for various reasons.
So far in 2022, they sold Rs 132,558 crore worth of stocks in India on a cumulative basis, NSDL data showed