FPIs invest Rs 7,200 cr in Indian equities in March so far

Foreign portfolio investors have invested INR7,200 crore ($1bn) in Indian equities so far in March, according to depositories. The inflows have been led by the US-based GQG Partners’ bulk investment in Adani Group companies. However, FPIs may remain cautious given a risk-off sentiment in global equity markets due to the stress in the US banking system and banking stocks crash, said VK Vijayakumar, chief investment strategist at Geojit Financial Services. FPIs had invested INR11,119 crore in December and sold equities worth INR26,913 crore this year.