Team Blitz India
NEW DELHI: Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country’s robust economic fundamentals.
Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed.
With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Further, FPI inflows into debt will also see acceleration in 2024, he added.
According to the data, foreign investors made a net investment of Rs 4,773 crore in Indian equities this month (till January 5).
