Home / Markets / Stock Markets /  FPIs pump in net 1,086 crore so far in October

NEW DELHI : Foreign portfolio investors (FPI) have invested 1,086 crore on a net basis so far in October in Indian markets, tracking encouraging factors including improved GST collection, acceleration in economic activity and positive global cues.

According to the depositories data, overseas investors pumped in a net 5,245 crore into equities and withdrew 4,159 crore from the debt market during October 1-9.

This translated into a total net inflow of 1,086 crore.

In September, FPIs were net sellers at 3,419 crore.

Harsh Jain, co-founder and COO at Groww, said that both domestic as well as global factors contributed to net inflow so far in October.

"Better than expected Q2 (earnings) performance, rising GST collection and a general opening up of the economy are helping India in becoming an attractive investment destination," Jain said.

In addition, the global markets are performing at pre-COVID-19 levels, he added.

"Few of the Asian markets like Japan, S Korea and Taiwan also saw positive FPI flows this week. The reversal of INR Vs USD from 74 to 73.1 and correction in the dollar index have been supportive for FPI flows into India," Rusmik Oza, executive vice president, head of fundamental research - PCG, Kotak Securities Ltd, noted.

Going forward, continuation of accommodative stance by global central banks may ensure flow of foreign investments into emerging markets including India, said Himanshu Srivastava, associate director - manager research, Morningstar India.

On the global front, US Presidential Election, rising COVID-19 infections and tension between US and China could determine the FPI flows, Srivastava added.

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