FPI buying in Indian IT rises to highest since July 2022: NSDL data

Foreign portfolio investors purchased $1.40 billion worth of Indian IT stocks in July, marking the highest since the April 2022 reclassification. The buying spree was fueled by anticipated U.S. rate cuts and positive earnings from major IT firms like TCS and Infosys. FPIs also showed interest in automobile and metal stocks, although financials faced outflows.