FPIs continue to bet on Indian equities; infuse Rs 30,600 cr in Jun so far

Foreign portfolio investors (FPIs) have invested over Rs 30,600 crore ($4.5bn) in Indian equities in June, amid support for the country’s macroeconomic stability and corporate earnings at a time of difficult conditions in the US and UK. They also invested Rs 3,051 crore in the debt market, attracted by the yield offered on Indian securities. FPIs had withdrawn Rs 34,000 crore during January and February before returning in force. However, further US interest rate hikes could cause fund inflows to fluctuate, said Shrikant Chouhan, head of equity research (retail) at Kotak Securities.