FPI Flows Bring Zing Back Into Nifty Premium

/1 min read
magazine-cover-image
This story belongs to the issue:
August 2023
Read Full E-Magazine

This story belongs to the Fortune India Magazine August 2023 issue.

Foreign portfolio investors have come back with a bang in the current financial year after being net sellers in the previous fiscal.

ADVERTISEMENT

FPI Flows Bring Zing Back Into Nifty Premium
 Credits: Graphic by Vikas Verma

FOREIGN PORTFOLIO INVESTORS have come back with a bang in the current financial year after being net sellers in the previous fiscal. In Q1 of FY24, they invested ₹1.14 lakh crore ($13.9 billion) in Indian equities after dumping stocks worth ₹37,632 crore ($5.1 billion) in FY23. This took Nifty multiples (12-month trailing) to 22.4 in June-end. If the momentum continues through the month, the index may trade at a significant premium to its 10-year average of 19.5 times.

Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.