FPI buying in 2020 so far at $15 billion

By: |
November 26, 2020 3:45 AM

Foreign portfolio investors have bought equities worth a record $8 billion in November so far encouraged by improving macro-economic data and good corporate results for the September quarter.

Money is flowing into quality companies with sound fundamentals uniformly, Jain added.In the month of November, global investment banks such as Morgan Stanley and Goldman Sachs too upped their targets for Indian equities and turned bullish.

Foreign portfolio investors have bought equities worth a record $8 billion in November so far encouraged by improving macro-economic data and good corporate results for the September quarter. With this the total investment in 2020 so far is nudging $15 billion,on the back of $14.23 billion in 2019.

The abundance of liquidity globally has prompted foreign funds to deploy some of it in Asian equities. FPIs had picked up stocks worth$2.8 billion in October and continued to remain buyers even though the Indian market is at its most expensive ever trading at multiples that are way above historical averages.

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