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Foreign investors are showing their interest in the Indian stock market. The biggest reason behind this is the stability of the Indian economy. In a way, where inflation and recession remain a matter of concern all over the world, the effect of both is being estimated to be less in India.
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Foreign investors invested Rs 11,119 crore in the Indian stock market in December. This was the second consecutive month of net arrivals, despite Covid infections in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent times. Depositories data showed that inflows in December were much lower as compared to Rs 36,239 crore invested by FPIs in the month of November.
“FPIs remained net buyers in Indian equity markets (in December) despite re-emergence of Covid in some parts of the world and concerns about recession in the US,” said Himanshu Srivastava, Joint Director and Research Manager, Morningstar India. During this period, many investors also booked profits in the Indian markets. Overall, FPIs have made a net withdrawal of Rs 1.21 lakh crore from the Indian equity markets in 2022. This was the worst year in terms of FPI inflows. Net investment came in the three years prior to this.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said that in the coming days, the market movement will be determined by the macroeconomic data of the US and the status of the Kovid transition. The weakening of the US dollar index and positive economic trends turned the IPI towards Indian markets. Foreign investors pulled out Rs 8 crore in October and Rs 7,624 crore in September, according to depository data.
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