New Delhi, April 14: Foreign portfolio investors (FPIs) continued to remain net buyers for the third month in April in Indian stock markets. So far in the month, they bought stocks worth Rs 13,347 crore in India, National Securities Depository Limited (NSDL) data showed.
Foreign Portfolio Investment (FPI) involves an investor buying foreign financial assets.
FPIs had aggressively sold Indian stocks and turned net sellers in the Indian equity market in January 2024, before turning net buyers thereafter.
“A major concern is the surcharged geopolitical situation in the Middle East with heightened tensions between Iran and Israel. These will keep the markets on tenterhooks in the near-term,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, on the FPI outlook.
In March, they bought stocks worth Rs 35,098 crore.
Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level and signs that the central bank is done tightening its monetary policy have all contributed to painting a bright picture for the Indian economy. India’s GDP grew at a massive 8.4 per cent during the October-December quarter of the financial year 2023-24, and the country continued to remain the fastest-growing major economy.
