1. FPI flow touches $1.7 billion during July-Sept quarter

FPI flow touches $1.7 billion during July-Sept quarter

Foreign portfolio investors (FPIs) have snapped up stocks worth $ 7.02 billion in 2016 so far, twice the amount that flowed in during the corresponding period of 2015.

Mumbai | Updated: October 1, 2016 6:56 AM
Foreign investors have now shopped for stocks in every month this year except January and February, buying close to $ 4 billion in March.(Reuters) Foreign investors have now shopped for stocks in every month this year except January and February, buying close to $ 4 billion in March.(Reuters)

Foreign portfolio investors (FPIs) have snapped up stocks worth $ 7.02 billion in 2016 so far, twice the amount that flowed in during the corresponding period of 2015. The tab of $ 1.7 billion in September is the highest in the last six quarters.

Between January and now, the Sensex has risen 6.7% closing Friday’s session at 27,865.96.

Foreign investors have now shopped for stocks in every month this year except January and February, buying close to $ 4 billion in March. However, markets such as Taiwan and South Korea have attracted more foreign flows than India this year. Taiwan has attracted the highest inflows of $14.3 billion followed by South Korea which has pulled in $ 9.4 billion. Indonesia, however, hasn’t been a big destination with inflows of $2.6 billion moving into its equity markets in the year so far.

During the period from January to September Taiwan’s benchmark index rose 9.9% and South Korea’s Kospi rose by 4.2%.

Consensus estimates peg the one-year forward trading multiple for the benchmark Sensex at 15.8 times, somewhat more expensive than Taiwan’s at 13.8 times. Korea is far cheaper, trading at 10.5 times, one-year forward estimated earnings.

Please Wait while comments are loading...

Go to Top