NEW DELHI: Foreign Portfolio Investors (FPIs) continue their liking for Indian equities with a net infusion of nearly Rs 22,000 crore in the first week of this month due to resilience of the domestic economy amid an uncertain global macro backdrop.
If this trend continues, investment by FPIs in July will exceed the figures recorded in May and June, which were Rs 43,838 crore and Rs 47,148 crore, respectively,
V K Vijayakumar
, Chief Investment Strategist at
Geojit Financial Services
, Head of Equity Research (Retail), Kotak Securities, said that FPIs may take some money off the table to maintain caution as concerns over interest rate hikes by the US Federal Reserve in July once again come up.
According to data from the depositories, FPIs have been continuously buying Indian equities since March and poured Rs 21,944 crore this month (till July 7).
Before March, overseas investors pulled out Rs 34,626 crore collectively in January and February.