FPIs turn positive with net inflow of ₹9,000 crore in Indian equities during November
US Federal Reserve is done with interest rate hike have acted as key catalysts for the foreign fund inflows into emerging markets like India. The FPI inflows into Indian equities during the month of November stood at ₹9,001 crore as against selling of over ₹39,000 crore in September and October together, according to National Securities Depository Ltd (NSDL) data. Taking into account debt, hybrid, debt-VRR, and equities, FPI inflows were at ₹24,546 crore during the month.
Also Read: Nifty hits a new record, F&O rollovers signal momentum Meanwhile, on December 1, FPI inflows in Indian equities stood at ₹9,744 crore, as per NSDL data. “FPIs have reversed their selling strategy in India. Decline in US bond yields and the resilience of the Indian market have forced the FPIs to halt their selling.
During the last six days, FPIs were consistent buyers in India. In November, as per NSDL data, FPI inflows turned positive with a net buy figure of ₹9,000 crore even though they sold in the cash market for ₹368 crores. The total buy figure for 2023, so far, now stands at ₹1,04,972 crore," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Indian stock market indices witnessed strong gains last week, with the benchmark Nifty 50 hitting a new record on Friday and the Sensex coming within kissing distance of its all-time high. India’s stellar GDP growth in the second quarter and positive cues from state exit polls lifted market sentiment. India’s Q2 GDP grew 7.6%, significantly exceeding the expectations.
Read more on livemint.com
