Foreign investors continue to remain net buyer in Indian stocks for third month

ANI
26 May 2023, 22:26 GMT+10

New Delhi [India], May 26 (ANI): Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the third straight month, data from the National Securities Depository (NSDL) revealed.

FPIs bought Indian stocks worth Rs 37,317 crore so far in the month of May. In March and April, they bought Rs 7,936 crore and Rs 11,631 crore worth of assets, respectively.

The recent banking crisis in the US following the collapse of Silicon Valley Bank in early March and the relatively strong economic outlook for India seemed to have made renewed appetite for domestic stocks.

One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which had been struggling, collapsed on March 10, after a run on the bank by the depositors. Its closure led to a contagion effect and the subsequent shutting down of other banks.

In January and February, FPIs sold equities worth Rs 28,852 crore and Rs 5,294 crore, respectively. NSDL data showed. Foreign investors were apparently cautious amid risks from the then volatility in Indian stock markets.

Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.

Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had then triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.

In 2022, foreign portfolio investors sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the historical data available on the NSDL website showed. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Central Asia Times.

More Information

null in null

International

Section

White House meeting between Trump, Netanyahu on July 7

WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...

Over 60 companies named in UN report on Israel-Gaza conflict

GENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...

UK lawmakers desigate protest group as terrorist organization

LONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...

Dalai Lama to address Buddhist conference, reveal succession plan

DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...

US Supreme Court backs Texas efforts to shield minors online

WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...

Turkey, France battle wildfires amid early Europe heatwave

ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...

Asia

Section