Staying with the bullish momentum, foreign investors have deployed over Rs 7,700 crore in the Indian stock market so far this month, driven by global and domestic factors.
It follows a 4-month high inflow of Rs 12,612 crore in the preceding month. That was the highest net inflow since March when FPIs had pumped in Rs 21,143 crore into the stocks.
Indian equities have been witnessing positive inflows from foreign investors since March.
Foreign portfolio investors (FPIs) turned net buyers in March after pulling out a massive Rs 41,661 crore from the market in previous four months (November-February).
Brokers said the likely delay in US rate hike is positive for emerging markets, especially India, triggering fresh round of purchases by investors. Besides, experts attributed the latest inflow to rate cut by Bank of England (BoE) and the passage of long-pending Bill to facilitate the Goods and Services Tax (GST) regime.
Sentiment got a fillip after the long-stalled indirect tax reform GST Constitution Amendment Bill was passed in the Rajya Sabha on August 4 and in the Lok Sabha on August 8. BoE, earlier this month, had cut its key interest rate by 25 basis points to 0.25 per cent, its first reduction since 2009, and also begun a fresh round of quantitative easing that had been on pause since 2012.
It follows a 4-month high inflow of Rs 12,612 crore in the preceding month. That was the highest net inflow since March when FPIs had pumped in Rs 21,143 crore into the stocks.
Indian equities have been witnessing positive inflows from foreign investors since March.
Foreign portfolio investors (FPIs) turned net buyers in March after pulling out a massive Rs 41,661 crore from the market in previous four months (November-February).
Brokers said the likely delay in US rate hike is positive for emerging markets, especially India, triggering fresh round of purchases by investors. Besides, experts attributed the latest inflow to rate cut by Bank of England (BoE) and the passage of long-pending Bill to facilitate the Goods and Services Tax (GST) regime.
Sentiment got a fillip after the long-stalled indirect tax reform GST Constitution Amendment Bill was passed in the Rajya Sabha on August 4 and in the Lok Sabha on August 8. BoE, earlier this month, had cut its key interest rate by 25 basis points to 0.25 per cent, its first reduction since 2009, and also begun a fresh round of quantitative easing that had been on pause since 2012.
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