AFTER TURNING NET sellers of government bonds under the fully accessible route (FAR) for the first time since India's inclusion in the JP Morgan Global Market Index - Emerging Suite in November, foreign portfolio investors (FPIs) have again turned net buyers in December.
FPIs increased their positions held under the fully accessible route to ₹2.51 lakh crore against ₹2.43 lakh crore a month ago.
The appointment of the new governor of the Reserve Bank of India has boosted the expectations of a rate cut in February.
This prompted foreign investors to take a positive view on the government bond market despite the rupee being under pressure.
The new RBI governor, Sanjay Malhotra, is perceived to be dovish in his approach; therefore, the market is confident about India going for a rate cut in February, said traders.
This story is from the January 01, 2025 edition of Financial Express Chennai.
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This story is from the January 01, 2025 edition of Financial Express Chennai.
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