FPIs inflow in equities at $2 bn in Nov so far
19 Nov 2017 9:48 PM IST
New Delhi: Foreign investors have pumped in a whopping over $2 billion in the Indian equity markets this month so far, enthused by government's announcement of recapitalising PSU banks, improvement in global sentiment and stable currency. This follows a net inflow of over Rs 3,000 crore in stock markets last month. Prior to that, FPIs had pulled out more than Rs 24,000 crore in the previous two months (August and September).
According to depository data, foreign portfolio investors (FPIs) infused a net sum of Rs 14,348 crore ($2.2 billion) in equities during November 1-17. However, they pulled out Rs 1,287 crore from the debt market during the period under review.
"The inflow could be attributed to some of the positive developments in the recent times. One amongst them is the government's announcement of recapitalising public-sector banks, which is expected to enhance lending and propel economic growth.
"This is particularly seen as a positive step after the questions were raised from various quarters on the government's ability to effectively implement economic reforms. Additionally, slight improvement in global sentiments and stable currency could have also turned the tide in India's favour," a Senior Analyst Manager Research Himanshu Srivastava said.
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