New Delhi [India], June 1 : Foreign portfolio investors (FPIs) have turned net sellers in Indian stock markets for the second straight month in May.
In January, February, and March, they have been net sellers all through.
Data made available by National Securities Depository Limited showed that FPIs had bought stocks worth Rs 19,860 crore in May. In April, the FPIs had accumulated stocks worth Rs 4,223 crore.
FPIs had fuelled the latest bull run in the stock market, after a sharp slump. As per definition, Foreign Portfolio Investment involves an investor buying foreign financial assets.
The benchmark Sensex is now about 4,500 points below its all-time high of 85,978 points. At one time, the Sensex had fallen about 13,000 points from its high. The FPI buying has supported the indices of late.
Indian stock markets outperformed global markets over the past few weeks, as volatility continued to reign in global markets over possible forthcoming US reciprocal tariffs.
A comfortable inflation number in India also somewhat supported the domestic equity indices.
In 2024, Sensex and Nifty accumulated a growth of about 9-10 per cent each. In 2023, Sensex and Nifty gained 16-17 per cent, on a cumulative basis. In 2022, they gained a mere 3 per cent each.
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