FPIs Invest INR 22000 Crore In July First Week Apart from equities, overseas investors put in INR 1,557 crore in the Indian debt market during the period under review

Foreign portfolio investors (FPIs) continue to invest in Indian equities with a net infusion of nearly INR 22000 crore within the first week of July due to resilience of the domestic economy amid an uncertain global backdrop, according to a PTI report.

V K Vijayakumar, chief investment strategist at Geojit Financial Services reportedly said that, if this trend continues, investment by FPIs in July will exceed the figures recorded in May and June, which were INR 43,838 crore and INR 47,148 crore, respectively.

Before March, overseas investors pulled out inr 34,626 crore collectively in January and February. Kotak Securities’ Chouhan said that India’s emergence as a strong growth-oriented market over others provides major confidence to overseas investors, as per the report.

“With the revival in monsoon in many parts of the country coupled with expectations of relatively better-than-expected corporate earnings in the first quarter, overseas investors have been increasing exposure to Indian equities,” he added.

Apart from equities, overseas investors put in INR 1,557 crore in the Indian debt market during the period under review. With the latest inflow, investment by FPIs into Indian equities has reached INR 98,350 crore and INR 18,230 crore in the debt markets so far this year, added the report.

In terms of sectors, FPIs have been steadily buying financial services, automobiles, capital goods, and construction. Recently, they have stepped up buying in FMCG and power. On the other hand, the selling trend in IT continues.