September 5, 2022
Foreign Portfolio Investors (FPIs) have transferred INR 5000 crore in July
FPIs are buying stocks of financials, capital goods, FMCG and telecom companies
India will continue attracting FPI inflows in September FY23, but at a slower pace
Foreign investments reached reached INR 62,016 crore in December 2020
Overseas investments in India have reached INR 51,200 crore in August FY23, due to an improvement of risk sentiment as well as oil prices, according to media reports. This has been the highest inflow value since December 2020 when the inflows reached INR 62,016 crore in equities.
According to the report, Foreign Portfolio Investors (FPIs) have transferred INR 5000 crore in July. They have started purchasing equities for the first time in the last nine months, during July this year, having withdrawn INR 2.46 trillion between October 2021 and June 2022. FPIs are buying stocks of financials, capital goods, FMCG and telecom companies
Experts said that India will continue attracting FPI inflows in September FY23, but at a slower pace compared to the previous month due to quantitative tightening, and consistent rate hikes by the US Federal Reserve.
Furthermore, the rise in recent foreign investments in the country was greatly facilitated by a rebound in currency markets, and stabilization of commodity prices especially steel and aluminum.
Source: Livemint