Foreign Portfolio Investors (FPIs) have continued to invest in the Indian equity markets despite the mounting worries over Covid-19 cases.
Their net investment thus far in the cash market to date is Rs 12,195 crores. FPIs have made gross purchases to the tune of Rs 66,645 crores, whereas their gross sales have been Rs 54,449 crores, resulting in net purchases in the cash market to the tune of Rs 12,195 crores so far.
Domestic institutions have pressed net sales to the tune of Rs 2000 crores since June 1. Their net purchases in the domestic market have been Rs 41,456 crores, while the net sales have been Rs 43,466 crores, resulting in net sales of almost Rs 2,000 crores.
Inflows to depend on global cues
The FPI inflows would now largely depend on global cues. For the last couple of days, we are seeing net selling by Foreign Portfolio Investors as global markets have been extremely weak. There have been fresh cases reported in the US of Covid-19, while China has shut certain districts as Covid-19 infections re-surface in the country.
This has led to some selling by FPIs in the cash market in the last few days. Much of the inflows would now depend on how things pan out globally.