Massive investment of Rs.58800 crores in stocks by foreign funds in short term

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MUMBAI: Attracted by corporate India's encouraging performance and India Shining, foreign funds have again become big buyers of stocks to participate in India's growth story. These foreign funds, which missed out on a bullish opportunity last year by becoming net sellers against heavy buying by local funds-local institutional investors, have become active buyers in India this year as if realizing their mistake.

The Sensex closed at 64,000 today on the back of net buying by foreign institutional investors, foreign portfolio investors (FPIs) of Rs 58,810 crore in the current calendar year so far and domestic institutional investors buying stocks worth over Rs 61,800 crore or over Rs 618 billion. It crossed the surface for the first time and created a new record height of 64050.44.

Along with the Sensex, the Nifty 50 index also crossed the 19,000 level for the first time today in this trip to a new high of 19011.25.

Sensex trip from 57000 to 64000 in 66 trading days

In the current calendar year 2023, Sensex, Nifty have seen a rapid rise in Indian stock markets due to active buying of local funds along with foreign funds. Sensex has registered a huge jump in a short period of time. In the current calendrical year 2023, the Sensex correction fell below 57,085 on March 20, 2023, it has touched the 64,000 level in 66 days in the subsequent boom.

Thus, in 66 days, Sensex has recorded a huge jump of 6965 points, i.e. 12.20 percent. The Sensex, which had reached 60157 on April 10, 2023, has taken only 55 trading days to cross the 6000 level to 64000 level. Thus, Sensex has shown a rise of 3900 points in 55 trading days.


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