FPIs infuse ₹2 trn in FY24

AFTER REMAINING NET sellers for two years, foreign portfolio investors (FPIs) turned buyers and infused a whopping ₹2.06 trillion in equities in FY24.

- VIVEK KUMAR M

FPIs were net sellers to the tune of 1.7 trillion in FY22 and FY23, when high valuations and rising interest rates forced them to take the money out.

With money flowing in from FPIs as well as domestic investors, the Indian equity market reached new highs in FY24, with key indices registering their best returns in over a decade, excluding the unusually high returns seen in FY21 on the back of bargain buying post-Covid-induced selloff.

The benchmark Nifty 50 and Sensex hit a lifetime high of 22,526.60 points and 74,245.17, respectively, in March. The Nifty 50 jumped around 29% in FY24, and the Sensex gained 25%.