Foreign portfolio investors pump in Rs 22,038 crore in February amid post-Budget cheer
FirstpostHimanshu Srivastava, associate director, manager research, Morningstar India, attributed the strong inflows in February to “the positive sentiments around the equity markets after the Union Budget” New Delhi: Continuing their buying trend, foreign portfolio investors have pumped in a net Rs 22,038 crore into the Indian markets in February so far amid positive sentiments around the Union Budget. According to depositories data, overseas investors poured in Rs 20,593 crore into equities and Rs 1,445 crore in the debt segment, taking the total net investment to Rs 22,038 crore during 1 to 12 February. Himanshu Srivastava, associate director, manager research, Morningstar India, attributed the strong inflows in February to “the positive sentiments around the equity markets after the Union Budget.” The government’s efforts in the Budget to bring the economy back on track have been lauded by investors, he added. Echoing the views, S Ranganathan, head of research at LKP Securities, said “sectors like private banks, consumer, FMCG and IT have seen foreign flows as Indian companies have exhibited resilience and demonstrated growth post lifting of the lockdown restrictions in third quarter.” Foreign flows are expected to be positive in fourth quarter as well, since the Budget has been pro-growth with privatisation gaining ground, he added.