Bengaluru: foreign portfolio investor (FPIs) bought shares worth ₹438.38 billion ($5.31 billion) on a net basis in the month of May, extending their buying streak in Indian equities in the new financial year, National Securities Depository Ltd.NSDL) showed up on Tuesday. This was the biggest purchase by FPIs in nine months since August 2022. In fact, FPIs bought Indian equities in each of the 21 sessions of the month.
FPIs were net buyers in March and April, mainly due to US investment firm GQG Partners’ $1.87 billion investment in four Adani group companies and steady quarterly earnings.
benchmark nifty 50 Jumped 2.60% in May, aided by “encouraging March-quarter results and strong FPI inflows”. Deepak Jasanihead of retail research HDFC Securities,
FPI-buying drove the Nifty up 50.7% between March 1 and May 31, with the benchmark logging gains over the past three months.
What did FPI buy in May
After selling financial services stocks worth Rs 299.93 billion in FY2023, FPIs showed renewed interest in the sector by buying Rs 176.71 billion in May.
He had bought Rs 76.90 billion in this sector in April.
Auto, fast-moving consumer goods (FMCG) and healthcare were other sectors that saw FPI interest in May.
“The March-quarter results season saw significant earnings growth across multiple sectors,” said analysts at ICICI Securities. He picked financials, auto and consumer discretionary as the top-performing segments in terms of earnings.
“FPI inflows into Indian equities will remain strong in FY2024 following record sales of nearly Rs 4 trillion in the last three years,” said Varun Sabu, head (equities), Anand Rathi Shares & Stock Brokers.
FPIs were net buyers in March and April, mainly due to US investment firm GQG Partners’ $1.87 billion investment in four Adani group companies and steady quarterly earnings.
benchmark nifty 50 Jumped 2.60% in May, aided by “encouraging March-quarter results and strong FPI inflows”. Deepak Jasanihead of retail research HDFC Securities,
FPI-buying drove the Nifty up 50.7% between March 1 and May 31, with the benchmark logging gains over the past three months.
What did FPI buy in May
After selling financial services stocks worth Rs 299.93 billion in FY2023, FPIs showed renewed interest in the sector by buying Rs 176.71 billion in May.
He had bought Rs 76.90 billion in this sector in April.
Auto, fast-moving consumer goods (FMCG) and healthcare were other sectors that saw FPI interest in May.
“The March-quarter results season saw significant earnings growth across multiple sectors,” said analysts at ICICI Securities. He picked financials, auto and consumer discretionary as the top-performing segments in terms of earnings.
“FPI inflows into Indian equities will remain strong in FY2024 following record sales of nearly Rs 4 trillion in the last three years,” said Varun Sabu, head (equities), Anand Rathi Shares & Stock Brokers.