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foreign investors has invested over Rs 13,500 crore in the Indian stock market so far this month. A major stake in this is held by US-based company GQG Partners, which has invested heavily in Adani group companies. This information has been obtained from the data of the depository. Earlier, foreign portfolio investors (FPIs) were pulling out of Indian stock markets. In February, he made a net withdrawal of Rs 5,294 crore and in January Rs 28,852 crore. Earlier, in December, FPIs had made a net investment of Rs 11,119 crore in stocks.
Big investment in Adani group
Going ahead, FPIs may take a cautious approach as the bankruptcy of Silicon Valley Bank (SVB) in the US has weighed on sentiments, said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. According to the data, till March 10, FPIs have invested Rs 13,536 crore in the Indian stock markets. Vijayakumar said, this investment includes a large investment of Rs 15,446 crore made by GQG in Adani group companies.
Better prospects in the Indian stock market
Himanshu Srivastava, Associate Director-Manager Research, Morningstar India, said that the reason for this investment is the better prospects of the Indian stock markets in the long term. In the calendar year 2023, FPIs have sold shares worth Rs 20,606 crore. On the other hand, Rs 2,987 crore has been withdrawn from the debt market during the period under review. Vijayakumar said that there is no uniformity in the activities of FPIs even in terms of investment in sectors. For example, in the first 15 days of February, they invested in shares of financial services companies, while they sold in the following two weeks. Similarly in the first fortnight he bought IT stocks but in the subsequent 15 days he exited.
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