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)Get a daily dose of Zimbabwe Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Zimbabwe Star.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
Buenos Aires [Argentina], July 6 (ANI): After concluding his visit to Argentina on Saturday, Prime Minister Narendra Modi departed...
Abu Dhabi [UAE], July 5 (ANI/WAM): President Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President...
Birmingham [UK], July 5 (ANI): KL Rahul continued his fine overseas run in Test cricket, becoming only the second Indian opener after...
* China's first LEGOLAND resort opened on Saturday in Shanghai. * Spanning 318,000 square meters, LEGOLAND Shanghai Resort is the...
Worcester [UK], July 5 (ANI): India's 14-year-old batting sensation Vaibhav Suryavanshi cracked the fastest century in the U19 ODI...
Thiruvananthapuram (Kerala) [India], July 5 (ANI): Indian wicketkeeper-batter Sanju Samson made a record-breaking return to the Kerala...