FPI buying in Indian shares hits 6-month high in first half of May: NSDL

Foreign portfolio investors (FPIs) have bought shares worth 249.39 billion rupees on a net basis in the first half of May, marking the highest buy by them in six months since November 2022, according to National Securities Depository Ltd data. They have shown renewed interest in financial services, with the sector seeing FPIs’ buying worth 83.82 billion rupees, followed by automobile, oil and gas, healthcare, and fast moving consumer goods. In contrast, information technology saw selling as the US banking system’s turmoil and softness in technology spends by US and European clients affected IT firms’ earnings.