Foreign portfolio investors (FPI) have infused a record USD 36 billion into equities so far this fiscal up to March 10, which is the highest since FY13, shows the latest data from the Reserve Bank of India (RBI). Conversely, net foreign direct investment (FDI)inflows jumped to USD 44 billion, till the end of January, up from USD 36.3 billion a year ago, driven by the massive inflows in November and December, with the last month of the year getting a record USD 6.3 billion.

But the inflows moderated in January due to lower inflows into equities shows the latest data from the March issue of RBI Bulletin released over the weekend. "Foreign portfolio investors (FPIs) made net purchases in the equity segment so far this fiscal, while have been net sellers in the debt market during the period. Cumulatively, FPIs have pumped in a record USD 36 billion into equities so far this fiscal up to March 10, which is the highest since FY13," says the bulletin.

The report further notes that the quality of FPI inflows improved during the period as category-I foreign investors, comprising central banks, sovereign wealth funds, pension funds, regulated entities and multilateral organizations, increased their stake to a high 95% of total equity assets at end-February compared with 87% at end-December 2019. According to depositories data, FPIs were net buyers of equities so far in March at Rs 8,642 crore. FPIs poured in Rs 14,202 crore into equities but pulled out Rs 5,560 crore from the debt segment between March 1 and 19, leaving net investment to Rs 8,642 crore.

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