Foreign portfolio investors (FPIs) have stepped up their buying of Indian stocks ahead of the full budget for the financial year 2024-25. FPIs remained buyers in the Indian market for the fifth consecutive week ahead of the budget to be presented two days later. In the month of July, a tremendous surge is being seen in their buying.
So much purchase so far this month
According to the data of National Securities Depository Limited (NSDL), foreign portfolio investors have so far bought Indian stocks worth more than Rs 30 thousand crore in the month of July. The total figure of their purchase has reached Rs 30,772 crore. In this way, the total investment of FPIs in the Indian stock market in the year 2024 has now become Rs 33,973 crore.
Stand changed from the third week of June
NSDL data shows that after buying in the last fortnight of last month, the buying of FPIs is increasing. Earlier during the last month, FPIs had bought Indian shares worth Rs 25,565 crore. FPIs remained sellers during the first two weeks of June. However, after that, their attitude changed from the third week and they started buying Indian shares again.
Buying speed increased before the budget
This month, FPI buying is looking very fast. Barely three weeks of the month have passed and the figure of purchase of Indian shares by FPIs has crossed Rs 30 thousand crore. Experts are linking the increase in FPI buying to the budget. Finance Minister Nirmala Sitharaman is going to present the full budget for the financial year 2023-24 on Tuesday, July 23. Earlier, the interim budget was presented in February.
Were selling since the beginning of the financial year
FPIs were sellers since the beginning of this financial year. In the first month of the financial year, April, FPIs sold shares worth Rs 8,671 crore. After that, in the month of May, foreign portfolio investors sold Indian shares worth Rs 25,586 crore. FPIs remained sellers since the beginning of the year. In the first month of the year, January 2024, they sold Indian shares worth Rs 25,744 crore. However, after that, in two months, shares worth Rs 1,539 crore were bought in February 2024 and Rs 35,098 crore in March.
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