FPIs remain buyers of Indian equities; invest Rs 10,850 cr in just four trading sessions

Foreign portfolio investors (FPIs) invested Rs 10,850 crore ($1.44bn) in Indian equities during May 2-5 due to the country’s stable macroeconomic environment, according to data from depositories. FPIs were drawn to India’s stable macroeconomic climate, strong GST collection figures and stronger-than-expected corporate results. Investment strategist VK Vijayakumar said the appreciation in the rupee and “good fourth-quarter results will aid in increasing capital flows to India”. However, FPIs withdrew Rs 2,460 crore from the country’s debt market. FPIs have taken out Rs 3,430 crore from equities and invested Rs 1,808 crore in the debt market so far this year.