FPI inflows at Rs 17,220 crore in February, highest since November 2017

By: |
Published: March 3, 2019 12:48:42 PM

Foreign investors poured in close to Rs 17,220 crore on a net basis into Indian equities in February this year, the highest since November 2017.

Foreign portfolio investors had pumped in a net amount of around Rs 19,728 crore into Indian stocks in November 2017

Foreign investors poured in close to Rs 17,220 crore on a net basis into Indian equities in February this year, the highest since November 2017, amid clarity on government spending plans and positive sentiments. Foreign portfolio investors had pumped in a net amount of around Rs 19,728 crore into Indian stocks in November 2017. As per the latest data from the depositories, foreign investors pumped in Rs 1,17,899.79 crore into equities and pulled out Rs 1,00,680.17 crore in February, a net investment of Rs 11,183 crore into the stock market.

Read | Adani Power’s Rs 14,000-crore SEZ project gets government approval

In the previous month (January 2019), however, foreign portfolio investment (FPI) outflows from equities stood at Rs 5,263.85 crore. Foreign investors have turned into net buyers in February mainly on account of clarity on government spending post budget and value buying in several pockets, according to Vidya Bala, Head – Mutual Funds Research at FundsIndia, said. She further said that inflows into the equity market can be attributed to positive view on budget and dovish stance taken by the central bank.

“The Reserve Bank’s decision to change its stance to neutral from calibrated tightening while cutting the repo rate by 25 basis points cemented the belief that bringing growth back is on the top of its agenda,” Alok Agarwala, Head of Investment Analytics at Bajaj Capital, said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Gold, silver slide on global cues, fall in demand
2SEBI restricts exemption from open offers to banks, financial institutions
3RBI’s Voluntary Retention Route (VRR) scheme to boost foreign investment in debt market