Foreign portfolio investors (FPIs) have bought Indian shares worth 116.31 billion Indian rupees ($1.42 billion) on a net basis in April, NSDL data has shown. This marks the highest purchase since November 2022. Stable macros, strong earnings as well as FPIs' return to Indian equities are the factors driving this investment, according to Arihant Capital Markets director Anita Gandhi. Sectors such as automobile and capital goods attracted FPI buying, however, IT witnessed selling pressure due to recession fears and a banking crisis in the US along with slowdown in Europe.
