Markets see ₹22,033 cr FPI investment in Oct
Foreign portfolio investors (FPIs) turned net buyers in October in Indian markets by putting in ₹22,033 crore as participant sentiment was driven by resumption of economic activities and robust quarterly corporate results among others.
In September, FPIs were net sellers at ₹3,419 crore.
As per depositories data, overseas investors invested a net ₹19,541 crore into equities and ₹2,492 crore into debt during October 1-30.
Total investment on a net basis stood at ₹22,033 crore in October.
“Availability of surplus liquidity in the global markets has been ensuring the flow of foreign money in Indian equities,” said Himanshu Srivastava, associate director—manager research, Morningstar India. Besides, opening of the economy, resumption of business activities and better-than-expected quarterly results helped in keeping investor interest intact, he added.
Globally, the scenario continues to evolve and there are multiple factors which would dictate the direction of foreign flows going ahead, Srivastava said.
Harsh Jain, co-founder and chief operating officer at Groww, said India’s new Covid-19 case count is finally going down which might help make India’s case even more attractive at this point, adding that positive news regarding a vaccine could greatly accelerate investments into India too. The next few months are crucial given that big news on multiple fronts—US elections, vaccine viability and availability, Jain noted.