After investing Rs 36,329 crore in Indian equities market in November, foreign portfolio investors (FPIs) have made a net investment of Rs 7,437 crore in the first two days of December on the back of weakening of the US dollar index and the overall positive macroeconomic trends, according to NSDL data.
Significantly, after pulling out over Rs 5,000 crore from the debt market in October and November, FPIs have invested Rs 394 crore in the debt market in December. The US federal Reserve plan to go for slower rate hikes has calmed the global markets, leading to a fall in the dollar index and capital inflows. V K Vijayakumar, chief investment strategist at Geojit Financial Services, said, “FPIs turned strong buyers in November consistently buying financials, IT, autos, FMCG, capital goods and telecom. They were sellers in financials in October, but were buyers in November. There is no consistency in their sectoral selling…
