FPIs inject Rs 27,856 cr in equities in Sept on US rate cut expectations
Foreign investors have infused Rs 27,856 crore in domestic equities in the first fortnight this month, owing to the resilience of the Indian market and growing optimism around the potential interest rate cut in the US.
Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they pulled out Rs 34,252 crore in April-May.
With the focus shifting to the US Federal Reserve's decision on interest rates in its upcoming FOMC meeting next week, its outcome will likely play a pivotal role in shaping the trajectory of future FPIs investments in Indian equities, Himanshu Srivastava, Associate Director- Manager Research, Morningstar Investment Research India, said.
According to the data with the depositories, FPIs put in a net investment of Rs 27,856 crore into equities this month (till September 13).
With this, FPIs' investment in equities reached Rs 70,737 crore so far this year.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services