Investments: With the Indian economy looking up, FIIs invest $1.5 bn in just ten days
Virendra Pandit
New Delhi: With various rating agencies, and global financial institutions, watching India move ahead with a seven percent growth this fiscal, the Foreign Institutional Investors (FII) have returned with investments of over Rs 12,190 crore (USD 1.5 billion) in the last ten days.
According to reports, these FIIs had remained net sellers in the Indian equity markets since October 2021. But the Domestic Institutional Investors (DIIs) sold stocks worth Rs 2,677 crore in the same period.
The FIIs’ infusion into the market supported benchmark indices to rise sharply, and the Indian rupee appreciated against the US dollar.
Market watchers said the Foreign Portfolio Investors (FPIs), who sold between October 2021 and June 2022, turned net buyers in July and continued to buy in August.
After nearly nine months, this reversed flow has turned positive in the Indian market. Foreign investors infused around Rs.5,000 crores in July, although they had sold off around Rs 50,203 crore in June, Rs. 39,993 crores in May, and Rs. 17,144 crores in April, the NSDL data showed.
The domestic benchmark indices also rose sharply. The Sensex has grown over 2,500 points, and the Nifty climbed 746.65 points in the previous ten days and was trading at 59,383.25 and 17,676.25, respectively, until Thursday afternoon.
The media reported the FIIs bought stocks in capital goods, construction, power, and the FMCG sectors.
