Foreign portfolio investors (FPIs) have pumped over ₹87,000 crore (over $10 billion) into domestic equities this quarter, the highest inflow since the three months ended June 2023.
A combination of better growth prospects, increased weightage in global indices, and large initial public offerings (IPOs) have ensured a healthy influx of foreign money to the Indian markets, which remain pricey compared to global peers.
FPI flows had slumped in the first two quarters (March and June) of calendar 2024 after pumping ₹53,036 crore in the December 2023 quarter. In the March 2024 quarter, FPIs were net buyers of ₹8,786 crore, while they turned net sellers to the tune of ₹3,040 crore in the June 2024 quarter.
The muted flows were largely due to uncertainty surrounding the outcome of India's parliamentary elections and the shock verdict, which was contrary to the expectations of Prime Minister Narendra Modi securing a simple majority on his own.
This story is from the September 24, 2024 edition of Business Standard.
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This story is from the September 24, 2024 edition of Business Standard.
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