NEW DELHI: After sustained selling in the last two and a half months, FPIs bought Indian equities worth Rs 1,433 crore thus far in November, mainly due to the decline in US treasury bond yields and crude oil prices.
Foreign Portfolios Investors (FPIs) were net sellers till November 15. However, they reversed the selling trend by infusing money during November 16-17, data with the depositories showed.
“The ongoing festive season in India has been seen as a contributing factor to the renewed interest of FPIs in the Indian market. Alongside this, a decrease in US Treasury bond yields and a decline in crude oil prices alleviated some of the pressures that prompted the sell-off earlier,” Himanshu Srivastava, associate director - Manager Research, Morningstar Investment Adviser India, said.
Some intermittent corrections in the markets could have also provided buying opportunities in a few pockets, Srivastava added.
Before the fund infusion, FPIs dumped Indian equities worth Rs 24,548 crore in October and Rs 14,767 crore in September, data showed.