FPIs increase bets on banks as credit growth picks up
Synopsis
The amount of FPI inflows in financial services during the fortnight is the highest in the sector since February 2021. As a result, the share of financial services in FPIs’ equity portfolio reached 32.28% as of November 15, 2022 – the highest in 18 months. Financial services is the highest weighted sector for the FPIs.
ET Intelligence Group: Improving credit demand – a leading indicator of growth – and a sharp turnaround in earnings of public sector banks have made foreign investors raise their bets on Indian financial services stocks as they reversed their outlook on equities of Asia’s third-largest economy in the last one month.
Foreign portfolio investors (FPIs) invested over 39% of their total inflows of $3.5 billion in the fortnight ended November 15 in
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