Konark sun temple, Hindu temple in Konark, India

New Delhi [India], July 3 : Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the fourth straight month, according to data from the National Securities Depository (NSDL).FPIs bought Indian stocks worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore, and Rs 47,148 crore in March, April, May, and June, respectively, data showed.So far in 2023, foreign investors have put in Rs 76,407 crore in the Indian stock markets.The foreign funds making their way into Indian stocks buoyed the broader market as the indices touched fresh peaks every now and then. Notably, Sensex today crossed 65,000 markets for the first time.The latest fund inflows started after the recent banking crisis in the US, leading to the Silicon Valley Bank's closure, among others, in March. Also, India's strong economic outlook seemed to have a renewed appetite for domestic stocks.One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which had been struggling, collapsed on March 10, after a run on the bank by the depositors. Its closure led to a contagion effect and the subsequent shutting down of other banks."FPI money is chasing performance and prospects. FPIs continued to invest in financials, automobiles, capital goods and construction-related stocks," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services."Valuations in India are rich, from a short-term perspective. Therefore, even while continuing to invest in India, FPIs are likely to turn a bit cautious, going forward," Vijyakumar added.Notably, in January and February, FPIs sold equities worth Rs 28,852 crore and Rs 5,294 crore, respectively. NSDL data showed. Foreign investors were apparently cautious amid risks from the then-volatile markets.Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.In 2022, foreign portfolio investors sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the historical data available on the NSDL website showed.Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had then triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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