Team Blitz India
NEW DELHI: Foreign investors have put in Rs 30,945 crore in the Indian equities in May so far, driven by strong macroeconomic fundamentals, prospect of reducing interest rates, positive earnings outlook and falling valuations of stocks.
With this, net inflows by Foreign Portfolio Investors (FPIs) reached Rs 16,365 crore in 2023 so far, data available with the depositories showed.
Going forward, FPI investment in India is expected to continue since the prospects for the Indian economy and corporate earnings growth appear bright now, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said on May 21.
According to data from the depositories, FPIs invested a net sum of Rs 30,945 crore in Indian equities during May 2 – May 19. This came following a net infusion of Rs 11,630 crore in equities in April and Rs 7,936 crore in March.
The March investment was mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow is negative.
