FPIs turn net buyers in June Invest Rs 12,714 cr in Indian markets

New Delhi: After remaining net sellers for two months in a row, foreign portfolio investors (FPIs) in June turned net buyers by pumping in a net Rs 12,714 crore into Indian markets.

Prior to this, overseas investors had pulled out Rs 2,666 crore in May and Rs 9,435 crore in April. According to depositories data, FPIs invested Rs 15,282 crore in equities between June 1 and 25. At the same time, FPIs withdrew Rs 2,568 crore from the debt segment. The total net inflow stood at Rs 12,714 crore during the period under review. Bajaj Capital Joint Chairman and MD Sanjiv Bajaj said: "The inflow in June is on account of favourable global cues and improving outlook for the Indian economy amidst a sharp fall in the number of Covid-19 cases easing of lockdown restrictions in some parts and a pick-up in vaccination."

India can witness 'V'-shaped growth revival amid forecast of a normal monsoon, supportive monetary policy, a deleverage balance sheet of corporate sector and a well-capitalised banking system, he added. Geojit Financial Services Chief Investment Strategist V K Vijayakumar said: "High delivery volumes in IT (information technology) and metal stocks indicate strong institutional buying."

Kotak Securities Executive Vice-President (Equity Technical Research) Shrikant Chouhan said that overall, the MSCI Emerging Markets Index gained nearly 1.49 per cent this week.