Key Points
Foreign portfolio investors (FPIs) bought Indian shares worth 306.60 billion rupees ($3.74 billion) on a net basis in the first half of July, on track for a fifth straight month of purchases, data from the National Securities Depository Ltd (NSDL) showed on Thursday...
Since March, FPIs have bought shares worth 1,393.50 billion rupees, fuelling a 13% rise in Nifty 50 between March 1 and July 15...
"Sustained earnings growth, continued stability in macroeconomic indicators including inflation and tax collections as well as global risk-appetite will be the key determinants of future FPI flows into India," said Sandeep Bagla, chief executive of the Mumbai-based financial services firm Trust Mutual Funds..
FPIs added equities worth 70.5 billion rupees in the financial services sector in the first half of this month, after buying 192.29 billion rupees worth of shares in June..
The revival in FPI interest in financials was aided by stable earnings, steady loan growth and improvement in asset quality and follows outflows of 299.93 billion rupees of shares in the sector in fiscal 2023...
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