FPIs invest Rs 11,000 cr in Indian equities in first week of September

Foreign investors infused nearly Rs 11,000 crore in domestic equities in the first week of the month owing to resilience of the Indian market and expectations of rate cut in the US.

Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they had pulled out funds to the tune of Rs 34,252 crore in April-May.

The recent inflows are promising and could continue, supported by India's stable macroeconomic position. However, global factors like US interest rate and geopolitical scenario would continue to be the driving force, Himanshu Srivastava, Associate Director- Manager Research, Morningstar Investment Research India, said.

According to the data with the depositories, FPIs put in a net investment of Rs 10,978 crore into equities this month (till September 6).

FPIs have been on a buying spree in the Indian equity markets after the sentiments improved following comments from US Federal Reserve Chair Jerome Powell, who suggested that a rate cut