Foreign portfolio investors (FPIs) have bought shares worth 1.57 trillion Indian rupees ($18.93 billion)on a net basis so far in fiscal 2024. In contrast, they sold shares worth 376.32 billion rupees on a net basis last year.
Between March and July, FPIs have been net buyers of Indian equities in each of the five months, purchasing shares worth 1,553.08 billion rupees and triggering a 14.15% rise in Nifty 50 index.
Persistent FPI inflows have supported the rally in the blue-chip Nifty 50 and S&P BSE Sensex, driving the benchmarks to record highs. The Nifty 50 rose nearly 2% in the first half of July.