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FPIs invest 13,424 crore in June so far amid easing virus caseload

Overseas investors poured in a net Rs 13,424 crore so far in the month of June as risk-on sentiment improved amid a decline Covid-19 cases and expectations of early opening of the economy. As per depositories data, foreign portfolio investors (FPIs) invested Rs 15,520 crore in equities between June 1 and 11.

Simultaneously, FPIs withdrew Rs 2,096 crore from the debt segment during the period under review. The total net inflow stood at Rs 13,424 crore. This comes following a net withdrawal of Rs 2,666 crore in May and Rs 9,435 crore in April.

“The robust net inflows over the last two weeks could be attributed to the improvement in investor sentiments on the back of consistently falling coronavirus cases in the country and hopes of an early opening of the economy,” said Himanshu Srivastava, associate director—manager research, Morningstar India.

For the inflows in June, VK Vijayakumar, chief investment strategist at Geojit Financial Services, added that it appears from fourth quarter corporate figures that a cyclical recovery in Indian economy is imminent post the progressive unlock that is happening now.

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