FPIs Continue Being Bullish On India; Invest Net Sum of Rs 17,749 Crore Between 1-23 October

Foreign portfolio investors (FPIs) have pumped in a net amount of Rs 17,749 crore in Indian equity and debt markets between 1-23 October, after emerging as net sellers in September when they had pulled out a total of Rs 3,419 crore, reports Business Standard.

In the first 23 days of the ongoing month, FPIs have pumped in a net sum of Rs 15,642 crore into the equity markets, while the debt markets have attracted a net sum of Rs 2,107 crore.

As per the co-founder of stock investment platform Groww's co-founder Harsh Jain, the fact India continues to attract investments at a time when most of the other emerging markets like Brazil, South Africa, Taiwan and Thailand have registered net outflows in 2020 is a testament of the perception among foreign investors that India is performing well in the immediate and long-term horizon.

Meanwhile, Jain also shared that FPIs have continued to increase their shake in Mukesh Ambani promoted Reliance Industries Limited (RIL) while reducing the shareholding in other energy sector companies.

It should also be noted though that the accommodative stance adopted by global central banks may also ensure the further flow of foreign investments into emerging markets like India.