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Foreign investors brought in over ₹3,700 crore into Indian stock markets in June, taking the total to more than ₹20,600 crore so far this year, mainly on hopes of a good monsoon. It follows a staggering inflow of more than ₹32,000 crore in preceding three months (March-May).
Foreign portfolio investors (FPIs) turned net buyers of equities in March after pulling out a massive ₹41,661 crore from the market in the previous four months (November-February).
“Good monsoons should drive improvement in earnings in 2016-17 and India remains a long-term structural story. Better near-term as well as long-term catalysts might have led to higher flows,” said Nilesh Shetty, Associate Fund Manager Equity, Quantum AMC.
According to data available with depositories, FPIs net invested ₹3,713 crore in the stock market last month.
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