Foreign institutional investors turned net buyers of Indian stocks for the third straight month in April, marking the longest monthly streak of inflows in over one-and-a-half years.
Foreign investors pumped in over Rs 72,000 crore in the past three months. That's at least over four-fold the amount investors ploughed in the last time India recorded three successive months of inflows, in May-July 2017.
Sanjiv Bhasin, executive vice president of markets at India Infoline Ltd., attributed the trend to a mixture of global and domestic factors. “The reversal in stance by the U.S. Federal Reserve to dovish and falling treasury yields is seen as positive for emerging markets like India,” he said. Favourable macros like the strengthening rupee and low inflation have also made foreign investors more bullish, he said, along with the prospect of a revival in corporate earnings growth.
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