FPIs pump in net Rs 1,086 crore so far in October

By: |
October 11, 2020 2:45 PM

According to the depositories data, overseas investors pumped in a net Rs 5,245 crore into equities and withdrew Rs 4,159 crore from the debt market during October 1-9.

As per depositories data, foreign portfolio investors (FPI) pumped in a net sum of Rs 16,520 crore into equities and Rs 1,298 crore in the debt segment during December 1-4.

Foreign portfolio investors (FPI) have invested Rs 1,086 crore on a net basis so far in October in Indian markets, tracking encouraging factors including improved GST collection, acceleration in economic activity and positive global cues.

According to the depositories data, overseas investors pumped in a net Rs 5,245 crore into equities and withdrew Rs 4,159 crore from the debt market during October 1-9. This translated into a total net inflow of Rs 1,086 crore. In September, FPIs were net sellers at Rs 3,419 crore.

Harsh Jain, co-founder and COO at Groww, said that both domestic as well as global factors contributed to net inflow so far in October. “Better than expected Q2 (earnings) performance, rising GST collection and a general opening up of the economy are helping India in becoming an attractive investment destination,” Jain said.

In addition, the global markets are performing at pre-COVID-19 levels, he added. “Few of the Asian markets like Japan, S Korea and Taiwan also saw positive FPI flows this week. The reversal of INR Vs USD from 74 to 73.1 and correction in the dollar index have been supportive for FPI flows into India,” Rusmik Oza, executive vice president, head of fundamental research – PCG, Kotak Securities Ltd, noted.

Going forward, continuation of accommodative stance by global central banks may ensure flow of foreign investments into emerging markets including India, said Himanshu Srivastava, associate director – manager research, Morningstar India.

On the global front, US Presidential Election, rising COVID-19 infections and tension between US and China could determine the FPI flows, Srivastava added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, 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.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Easy Trip Planners garners Rs 229 cr from anchor investors ahead of IPO
2MTAR Tech IPO subscribes over 200 times on final day on strong investors support
3Sebi lays guidelines on votes cast by mutual funds