FPIs flip web consumers in June to date; make investments Rs 12,714 crore

After remaining web sellers for 2 months in a row, international portfolio buyers in June turned web consumers by pumping in a web Rs 12,714 crore into Indian markets.
Prior to this, abroad buyers had pulled out Rs 2,666 crore in May and Rs 9,435 crore in April.
According to depositories knowledge, FPIs invested Rs 15,282 crore in equities between June 1 and 25.
At the identical time, FPIs withdrew Rs 2,568 crore from the debt phase. The complete web influx stood at Rs 12,714 crore throughout the interval beneath evaluate.
Bajaj Capital Joint Chairman and MD Sanjiv Bajaj stated the influx in June is on account of “favourable global cues and improving outlook for the Indian economy amidst a sharp fall in the number of COVID-19 cases easing of lockdown restrictions in some parts and a pick-up in vaccination.”

India can witness ‘V’-shaped development revival amid forecast of a traditional monsoon, supportive financial coverage, a deleverage stability sheet of company sector and a well-capitalised banking system, he added.