Foreign portfolio investors bullish on Indian markets, pumps Rs 23,786 crore since June 10

New Delhi: Buoyed by the policy and reform continuity, foreign portfolio investors (FPIs) have altered their position in the equity market following the election results, injecting Rs 23,786 crore since June 10, industry analysts said on Saturday.

There are three primary reasons for this positive inflow.

“First, the continuity of the government assures ongoing reforms. Second, the Chinese economy is decelerating, as evidenced by a 12 per cent decline in copper prices over the past month,” said Sunil Damania, Chief Investment Officer, MojoPMS.

Third, certain block deals in the market have been eagerly taken up by FPIs.

“However, these FPI inflows are concentrated in a select few stocks rather than being widespread across the market or sectors,” Damania said.

Till June, FPIs sold equity for Rs 11,193 crore.

According to market experts, it is interesting to note that this net sell figure is composed of selling through the exchanges for Rs 45,794 crore and buying through the “primary market and others” for Rs 34,600 crore.

FPIs are selling where valuations are high and buying where valuations are reasonable.

Analysts believe that FPI inflows will remain constrained due to the high valuations currently commanded by the Indian equity market.

Meanwhile, the Indian market initially continued its upward trend as concerns over election outcomes eased and global sentiment improved.

With a coalition government in place, there is optimism that the upcoming budget will strike a balance between growth initiatives and populist measures, they noted.

IANS

 

India’s defence exports record over 30-fold quantum leap in last 10 years

New Delhi: India’s defence exports have recorded a 30-fold quantum leap over the last 10 years from a mere Rs 686 crore in the financial year 2013-14 to a record...

Direct tax collections surge 19.5 pc to Rs 5.74 lakh crore in 2024-25 so far

New Delhi: The country’s nets direct tax collection posted a robust 19.5 per cent growth to Rs 5.74 lakh as on till July 11 of the current financial year (2024-25)...

Ola CEO calls for 70 hours work week, doctor warns of diseases, premature death risk

New Delhi: After Ola CEO Bhavish Aggarwal backed Infosys founder Narayana Murthy's 70-hour work-week advice, a top neurologist on Friday warned that it could increase the risk of several serious...

New jobs created in Indian economy in 2014-23 jump over 4-fold compared to 2004-14: SBI study

New Delhi: As many as 12.5 crore jobs have been created in the Indian economy during the financial years 2014-23, which represents an over four-fold jump from the 2.9 crore...

Top-notch Saudi-Indian company launches its new website in Saudi Arabia

RIYADH: After months of hard work and dedication, Big City Solutions Company for Business Services is pleased to announce its new website (www.bigcitysolution.com) with the primary goal of creating a...

Adani Group’s Vizhinjam Port receives first mothership, puts India in world league

Thiruvananthapuram: Adani Group's Vizhinjam Port, India's first trans-shipment port near Kovalam Beach in Kerala, received its first mothership on Thursday. 'San Fernando', a vessel of the world’s second-largest shipping company...

Shiprocket integrates Snowflake’s AI Data Cloud to empower 1.5 lakh Indian merchants

New Delhi: Data cloud company Snowflake, on Wednesday, announced that e-commerce enablement platform Shiprocket has successfully deployed its artificial intelligence (AI) Data Cloud, which will empower 1.5 lakh Indian merchants...

Sensex trades lower amid selling in banking stocks

Mumbai: Indian equity indices opened in red on Wednesday following pressure in banking stocks. At 9:55 a.m., Sensex was down 228 points or 0.28 per cent, at 80,123 and Nifty...

Number of new jobs more than doubles to 46.6 million in 2023-24: RBI data

New Delhi: As many as 46.6 million new jobs were created in the Indian economy during 2023-24, according to the latest data released by the Reserve Bank of India. The...

Xiaomi aims to source 55 pc phone components in India, showcases 1st luxury EV

Bengaluru: Smartphone company Xiaomi on Tuesday said it aims to source at least 55 per cent of its components locally in India, which aligns with the government's 'Make in India'...

EV adoption could save $10 bn, create millions of jobs by 2030: Amitabh Kant

New Delhi: Highlighting the need to create a new overarching strategy for road transport that can boost transition to Electric Vehicles (EV), G20 Sherpa and former NITI Aayog CEO, Amitabh...

India’s Financial Inclusion Index improves to 64.2 in 2023-24

Mumbai: India’s Financial Inclusion Index (FI-Index) for the financial year ended March 31, 2024, has improved to 64.2 vis-a-vis 60.1 in March 2023, with growth witnessed across all sub-indices, the...

Read Previous

Five troops killed in terror attack in Pakistan

Read Next

FMCG sales growth in rural areas to outstrip urban markets: Report

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com