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FPI Investment: After pulling out investments for two consecutive months, foreign portfolio investors (FPIs) have invested Rs 7,936 crore in the Indian stock market in March. FPI investment has been positive in March due to US-based GQG Partners investing money in Adani group companies.
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Sanchit Garg, co-founder and chief executive officer (CEO) of GLC Wealth Advisors LLP, said that if the investments in Adani group companies are excluded, the net investment of FPIs in March will turn negative. This means that even in March, FPIs have been sold. VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “The continuous selling streak by foreign portfolio investors seems to be coming to an end. They have turned buyers in the last few sessions.”
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“The near-term outlook for FPIs looks more positive now. Even though Indian valuations remain relatively high, the ‘correction’ in the market in the recent past has brought valuations back to normal,” Vijayakumar said. .” He said that due to the increase in exports, the current account deficit (CAD) situation has improved. In such a situation, FPIs may not sell aggressively further.
Indian rupee likely to remain stable going forward
He said that the current account deficit in the second quarter of the last financial year was 4.4 per cent. There has been a current account surplus in the third quarter. Therefore, going forward, the Indian rupee is likely to remain stable. According to depository data, FPIs have invested a net Rs 7,396 crore in Indian stocks in March. Earlier in February, he had withdrawn Rs 5,294 crore and in January Rs 28,852 crore. In December 2022 as well, FPI had net invested Rs 11,119 crore.
FPI also pulled out investment from loan or bond market
In the period under review, FPIs have also withdrawn Rs 2,505 crore from the loan or bond market. He infused Rs 3,531 crore in the bond market in January and Rs 2,436 crore in February.
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