Foreign investors buy shares worth ₹14,000 crore in a week amid softening dollar index
The Hindu
FPIs had turned buyers in July after nine straight months of heavy net outflows, which started from October last year. Between October 2021 and June 2022, they sold a massive ₹2.46 lakh crore in the Indian equity markets
After turning net buyers last month, foreign investors continued their positive stance on Indian equities and invested over ₹14,000 crore in the first week of August amid softening of the dollar index.
This was way higher than the net investment of nearly ₹5,000 crore by Foreign Portfolio Investors (FPIs) in entire July, data with depositories showed.
FPIs had turned buyers in July after nine straight months of heavy net outflows, which started from October last year. Between October 2021 and June 2022, they sold a massive ₹2.46 lakh crore in the Indian equity markets.
Hitesh Jain, Lead Analyst - Institutional Equities, Yes Securities, said FPI flows are expected to remain positive during August as the worst for the rupee seems to be over and crude oil price seems to be confined in a range.
"Also, earnings story still remains strong where sturdy revenue growth is offsetting contraction in profit margins," he added.
According to data with depositories, FPIs infused a net amount of ₹14,175 crore in Indian equities in the first week of August.
The change in FPI strategy has imparted strength to the recent market rally.
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