Adani Share Block Deal Aids FPI Investment In Equities Turn Positive In March
NDTV
According to the data with depositories, FPIs have pumped in a net sum of Rs 7,396 crore in Indian equities in March.
After pulling out funds in the past two months, Foreign investors have invested Rs 7,936 crore in the Indian equities in March mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners.
However, if one adjusts for the investments of GQG in Adani Group, the net flow is still negative, meaning FPIs have withdrawn money even in March, Sanchit Garg, Co-founder & CEO, GLC Wealth Advisor LLP, said.
According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the sustained selling by Foreign Portfolio Investors (FPIs) appears to be over, since they have turned buyers in the last few days.
"The near-term outlook for FPI looks much more positive now. Even though Indian valuation continues to be relatively high, the recent market correction has made valuations a bit more reasonable than earlier," Vijayakumar said.
