Subscribe To Our Free Newsletter |
FPIs inject over Rs 6,100 cr in equities in March on strong economic growth
Foreign Portfolio Investors (FPIs) are turning steady buyers as they bought Indian equities worth Rs 6,139 crore so far this month driven by strong economic growth, market resilience and decline in US bond yields.
This came following a modest investment of Rs 1,539 crore in February and massive outflow of Rs 25,743 crore in January, data with the depositories snowed.
"FPI inflows have shown a positive trend as compared to the previous month. Thanks to the recent announcement of Q3 GDP numbers at 8.4 per cent, persistence performance of large Indian corporates being major factors for turning the tide green for the Indian equity market," Manoj Purohit, Partner and leader - FS Tax, Tax and Regulatory Services, BDO India, said.
On the regulatory front, announcements such as removal of UAE from the grey list, Sebi's consultation paper for easing disclosures norms for regulated FPIs have been the major catalysts to put India on the forefront for potential long term investments for the ...