FPIs invest Rs 33,600 cr in equities in July
Mumbai/IBNS: Foreign portfolio investors (FPIs) injected over Rs 33,600 crore into Indian equities so far in July on the expectation of continued policy reforms, sustained economic growth and a better-than-expected earnings season, reports said.
However, FPIs pulled out over Rs 7,200 crore from equities in the last three trading sessions (July 24-26) after the Government of India hiked taxes on Futures and Options trades (F&O) and capital gains from equity investments in the Union Budget, according to reports.
As per data with the depositories, FPIs have made a net inflow of Rs 33,688 crore in equities this month, till July 26.
This came following an inflow of Rs 26,565 crore in equities last month (June), driven by political stability and the sharp rebound in markets, reports said.
Before that, foreign portfolio investors withdrew Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields, according to reports.
Apart from equities, foreign investors reportedly injected Rs 19,223 crore in the debt market during the period under review, and this has pushed the debt tally to Rs 87,847 crore this year so far.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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