- Foreign portfolio investors (FPIs) started FY24 on a positive note as they invested ₹9,677 crore in financial services and auto stocks in April.
- Overall, FPIs pumped in ₹11,629 crore in Indian equities during the month, with 16 out of the 24 sectors witnessing inflows.
- The trend of positive FPI flows has gained even more momentum in May, with net equity investments standing at ₹14,703 crore this month so far.
Foreign portfolio investors (FPI) have started FY24 on a positive note, with strong inflows observed in financial services and auto stocks in April. Together, these two sectors witnessed inflows of ₹9,677 crore during the month.
Overall, FPIs were net buyers in Indian equities in April, extending their purchases from the previous month. Their net investments in Indian equities stood at ₹11,629 crore. All in all, 16 out of 24 sectors witnessed inflows during the month, while five sectors witnessed outflows and one sector remained flat.
The trend of positive FPI flows has gained even more momentum in May, with net equity investments standing at ₹14,703 crore this month so far.
“India outperformed most markets in April. The principal reason for the outperformance is the sustained buying by FPIs,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
Indian equity markets roared in April after experiencing high volatility in March. During the month, the Nifty50 index surged 4.1% while Sensex gained 3.6%. The financial services index outperformed Nifty50 with gains of 4.4%, while Nifty Bank rose 6.5% and Nifty Auto index gained 7.7% in April.
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