Share Market Updates: Foreign portfolio investors (FPIs), who had previously been net sellers, have now become aggressive buyers of Indian stocks and have invested Rs 49,250 crore so far in August consequence of an increase in corporate earnings and macroeconomic fundamentals, a report said.
After turning net buyers last month they have become aggressive shoppers of Indian equities and pumped in Rs 49,250 crore so far in August. This was way higher than a net investment of nearly Rs 5,000 crore by Foreign Portfolio Investors (FPIs) in the entire July, data with depositories showed. FPIs had turned net buyers for the first time in July, after nine straight months of massive net outflows, which started in October last year. Between October 2021 and June 2022, they sold a massive Rs 2.46 lakh crore in the India equity markets.
In the coming months, FPI flows will largely depend on commodity prices and geopolitical concerns, corporate results and signs from the US Fed on interest rates movements, Vivek Banka, founding member of fintech platform Goal Teller, said. The ultra-hawkish stance of the US Fed chairman Jerome Powell at Jackson Hole is a short-term negative for equity markets. This might impact FPI flows in the short-term, V K Vijayakumar, Cheif Investment Strategist at Geojit Financial Services, said. According to data with depositories, FPIs pumped a net amount of Rs 49,254 crore in Indian equities during August 1-26. This is the highest investment made by them so far in the current year.
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