NEW DELHI: Continuing their buying spree, foreign portfolio investors (FPIs) invested Rs 24,965 crore in Indian markets in February so far as various organisations predicted high economic growth for the country and the Union Budget boosted investor sentiment.
According to depositories’ data, FPIs pumped in Rs 24,204 crore into equities and Rs 761 crore in the debt segment, taking the total net investment to ₹24,965 crore during February 1-19.
Exchange, traders, foreground center, gather at a post on the NYSE trading floor during the direct listing of Palantir Technologies, Wednesday, Sept. 30, 2020. Shares of data-mining company Palantir jumped 47% to $10.67 on their first day of trading. The company was born 17 years ago with the help of CIA seed money. Palantir isn’t selling new shares to raise money. Instead, it’s listing existing shares for public trading. (NYSE Photo/Courtney Crow via AP)
Bubble warnings go unheeded as everyone is a buyer in stocks
In the preceding month, FPIs were net investors of ₹14,649 crore.
“Various organisations, both national as well as international, have predicted a high economic growth for the upcoming year and the year after for India,” said Harsh Jain, co-founder and COO at Groww.
S Ranganathan, head of research of LKP Securities added that FPIs remained positive on Indian markets as IMF predicted India to be the fastest growing economy in 2021.
“A pro-growth Budget aimed at leveraging the digital revolution is transformational and we expect FPI flows to continue next month as well aided by MSCI rebalancing,” Ranganathan added.
In addition, the earnings season also turned out to be good, said Rusmik Oza, executive vice pr
esident, head of fundamental research at Kotak Securities.
For emerging markets, Oza said flows have been muted in emerging markets this month to date.
—PTI

Press Trust of India