FPIs make first monthly buying of 2023 driven by Adani stocks block deal, inflows of ₹7,936 cr in equities in March
As per NSDL data, FPIs inflow in equities stood at ₹7,936 crore during March. This is compared to the outflows of ₹5,294 crore in February and ₹28,852 crore in January respectively.
Foreign portfolio investors (FPIs) made their first monthly buying of 2023 in March with an inflow of ₹7,936 crore in Indian equities. Although in the majority part of March, markets were under pressure after two US banks' failure sparked contagion fear in the banking system, FPIs are broadly buyers driven by the major block deal in Adani stocks. The near-term outlook of FY24 looks positive for FPIs as the high valuation of Indian markets has corrected significantly.
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