Foreign portfolio investors (FPIs) continue to be buyers of Indian equities in May and invested Rs 10,850 crore in the last four trading sessions due to the country’s stable macroeconomic environment, robust GST collection and better-than-expected corporate quarterly earnings.
This came following a net infusion of Rs 11,630 crore in equities in April and Rs 7,936 crore in March, data available with the depositories showed.
The March investment was mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow is negative.
Going forward, the appreciation in the rupee and good fourth-quarter results will aid in increasing capital flows to India, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to data from the depositories, FPIs invested a net sum of Rs 10,850 crore in Indian equities in the last four trading sessions during May 2-5.
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