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HomeNewsBanks, financial services attract bulk of FPI inflow in Nov

Banks, financial services attract bulk of FPI inflow in Nov

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Mumbai, Nov 25 : Foreign Portfolio Investments (FPI) have been bullish on the Indian equities off late and a significant portion of those investments are going into finance and banking stocks.
Financial services stocks attracted a net investment of Rs 16,389 crore during the first two weeks of November, with banks receiving Rs 11,519 crore out of it while other financial stocks received net investment of Rs 4,870 crore, as per NSDL data.
Capital goods, consumer durables, and oil and gas stocks followed the financial stocks in terms of FPI inflow with Rs 1,709 crore, Rs 1,532 crore and Rs 1,289 crore during the first half of November.
During November 1-15, 2020, FPIs made a net investment of Rs 29,436 crore into equities in India. So far, during the month, net FPI inflow has surged to Rs 53,167 crore.
FPIs made a return in October, after foreign investors made a pullout in September.
This trend is the likely to continue at least in the near term according to analysts, with high liquidity in the market post the measures announced by governments and central banks globally.

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