New Delhi: Foreign portfolio investors (FPIs) have invested Rs. An investment of 43,838 crores was made. Chief Investment Strategist at Geojit Financial Services V.K. Vijayakumar said that FPIs were aggressive buyers in the market in May, with the stock market and the primary market together buying Rs. 43,838 crore had been invested.
A survey among foreign portfolio investors shows that India is now a consensus overweight among all emerging markets. In May, India attracted the most investment among all emerging markets and FPIs in China were sellers. Vijayakumar added. Vijayakumar said that FPIs are likely to continue their investment in India even in June. Because, recent GDP data and high frequency indicators reflect a strong economy gaining strength. Financial, automobile, telecom and construction are attracting huge investments.
Vijay Kumar said that in the next few trading days, the Nifty could touch the all-time high of 18887 and break the record. However, selling pressure at record levels is likely. Because, valuation will be a concern. Equity markets are buoyed by better-than-expected national income figures, encouraging manufacturing PMIs and the end of US debt ceiling talks, said Joseph Thomas, head of research at MK Wealth Management.