10-08-2024 04:08 PM | Source: MojoPMS
Quote on FPI by Sunil Damania, Chief Investment Officer, MojoPMS
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Below the Quote on FPI by Sunil Damania, Chief Investment Officer, MojoPMS
"Despite global negative news, the Indian stock market has demonstrated remarkable resilience. This resilience is attributed to the robust economic growth of India, effective monetary policy by the central bank, and record inflows from retail investors. Unlike previous trends, retail investors are now using market dips as opportunities to increase their equity allocations.
In typical scenarios, fund managers refrain from making significant cash calls on the market to avoid substantial underperformance. However, the strong inflows from retail investors are pressuring fund managers to invest in the equity market, leaving them with limited alternatives.
Foreign Portfolio Investors (FPIs) typically pursue valuations. Currently, India’s valuations are at a premium compared to the historical premiums of other emerging markets. It's worth noting that FPIs generally do not heavily invest in the Indian market for two consecutive years, as per historical patterns. Last year, the Indian market saw record inflows from FPIs, leading to expectations of muted inflows this year. The average monthly inflows from FPIs in 2024 were Rs 15,000 crore, which has come down to Rs 4,000 crore year-to-date in 2024."
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