Business

FPI Invest Rs 43,838 cr In India In May, Likely To Continue In June

Foreign portfolio investors (FPI) invested Rs 43,838 crore in the Indian stock markets in May.

V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the FPIs were aggressive buyers in the market in May having invested Rs 43,838 crore through the stock market and primary market put together.

A survey among foreign portfolio investors showed that India is now the consensus overweight among all emerging markets. In May, India attracted the largest investment among all emerging markets, and FPIs were sellers in China, he added.

FPIs are likely to continue their investment in India in June too since the latest GDP data and high frequency indicators reflect a robust economy gaining further strength. Financials, automobiles, telecom and construction are attracting big investments, he said.

Nifty racing to the all-time high of 18887 and breaking the record are highly possible in the next few trading days. But at record levels, selling pressure is likely since valuations will emerge as a concern, he said.

Joseph Thomas, Head of Research at Emkay Wealth Management, said the the equity market has been holding quite well buoyed by the better than expected national income data, encouraging manufacturing PMI, and finally, a closure to the US debt ceiling discussions.

Bharat Express English

Recent Posts

First Phase Of Jharkhand Assembly Elections Begins, Key Contests Unfold Across 43 Constituencies

Jharkhand Assembly elections kicked off across 43 seats. Out of the 15,344 polling stations, voting…

56 mins ago

PM Modi To Visit Bihar, Launching AIIMS Darbhanga And Development Projects Worth ₹12,100 Crore

PM Modi will visit Bihar on Wednesday to lay the foundation stone for AIIMS Darbhanga,…

1 hour ago

Academicians Urge Students To Understand UPPSC PCS Process Before Protesting

Academicians and experts are surprised by recent students protests against the normalization process in UPPSC…

11 hours ago

Keshav Prasad Maurya Supports Student Demands For Fair UP PCS Exam Process

UP Deputy CM Keshav Maurya supports student concerns over the UP PCS exam, urging swift…

12 hours ago

First Phase Of Jharkhand Assembly Elections Begins On Wednesday

Jharkhand prepares for the first phase of Assembly elections on Wednesday, tribal women in Ranchi…

13 hours ago

Rouse Avenue Court Acquits Congress Leaders In Chinese Visa Fraud Case

Rouse Avenue Court has acquitted Congress leaders Jagdish Tytler and Abhishek Verma in the high-profile…

13 hours ago