Foreign portfolio investors invest ₹1,997 crore so far in October
The HinduForeign portfolio investors remained net buyers to the tune of ₹1,997 crore so far in October as India continues to be a competitive investment destination from a long-term perspective. Even though IT is highly valued, this segment is attracting increasing flows since earnings visibility is high in the segment while banking is struggling with poor credit growth and rising asset quality concerns, he added. "From the long-term perspective, India continues to be an important and competitive investment destination, and that is where Indian equities keep on attracting FPI flows at regular intervals, as is evident this week," said Himanshu Srivastava, Associate Director - Manager Research, Morningstar India. Also, any direction by U.S. Fed towards tapering of the stimulus measures would make FPI flows into emerging markets volatile and at the same time it would be crucial in dictating the direction of foreign flows into Indian equities, Mr. Srivastava said.