By Malvika Gurung
Investing.com — Foreign investors have bought total Indian shares worth Rs 11,495 crore in the week ending on Feb 17, 2023, after turning net sellers in the preceding two months.
However, the recent brewing banking crisis in the US, led by the collapse of Silicon Valley Bank (NASDAQ:) and Signature Bank (NASDAQ:), along with Credit Suisse’s plummet, has dented markets’ sentiments, which could lead FPIs to be more cautious on investing in India going ahead.
In a note sent to Investing.com, Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services attributed the total investments made by FPIs in Indian equity so far in March majorly to the bulk investment of Rs 15,446 crore carried forward by GQG Partners in Adani stocks.
So far in the calendar year 2023, foreign investors have turned net sellers and debited a total of Rs 22,651 crore from Indian equities, denoted NSDL data.
“FPIs have been consistent buyers only in capital goods. In financial services, they have been alternating between buying and selling in different fortnights. Since risk off is the dominant market mood now following the bank failures in the US and fears of contagion, FPIs are unlikely to turn buyers in the near-term,” noted Vijayakumar.
Read Also: FPIs Turn Net Buyers in March Despite Recent Volatility, Invest Rs 11,495 Crore
