18-12-2023 11:56 AM | Source: PR Agency
Quote on FPI : FPIs have reversed their position and turned as net buyers in the first week of December 2023 by Manoj Purohit, BDO India
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Below the Quote on FPI from Manoj Purohit, Partner & Leader - FS Tax, Tax & Regulatory services, BDO India
"The recent pullout by the US on Federal rate hikes have been one of the catalysts to keep the Indian market flooded with cash flows from the FPI fraternity. FPIs have reversed their position and turned as net buyers in the first week of December 2023. Additionally, the state election results in India and RBI’s monetary policy outcome on maintaining status quo on rates also made FPI’s stand on India markets positive.
The other factors contributing FPIs to pump liquidity in Indian market are RBI’s inflation forecast at 5.4%, positive signs on improved capex and valuations. The Sensex touching an all time high also acted as an icing on the cake.
All in all, the momentum for the Indian cash equities market reflects a promising wind up of 2023 and a strong base for 2024 to start with, taking the foreign investments inflows to a new horizon."
Above views are of the author and not of the website kindly read disclaimer
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