According to NSE data, on November 3, foreign investors made purchases of Rs 677 crore.
FII has invested in banks, oil-energy, auto, realty, health services, telecom sectors.
Indian markets have attracted foreign investors due to the improvement in demand and growth.
Mumbai. Foreign investors continue to buy in the Indian stock market. Foreign Institutional Investors (FIIs) invested $3 billion in the last 10 trading sessions. According to NSDL data, between October 20 and November 2, FIIs bought $2.74 billion in the equity market. At the same time, according to the data of the National Stock Exchange, on November 3, foreign investors made purchases of Rs 677 crore.
Last month in October, there was volatility in the market but in the last few sessions the market is trading with an edge and it has crossed the level of 18 thousand. Between October 1 and October 13, both the Sensex and Nifty recorded a fall of about 0.5 per cent, but since then it started showing an upward trend.
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Purchases made in these sectors
During this period, shares of banks, oil-energy, auto, realty, health services, telecom and consumer durable sectors were seen buying by foreign investors. Besides, the index of industrial production rose by 7.9 per cent in September as against a revised rate of 4.1 per cent a month ago. Growth was at a seven-month low in August but improved performance in September due to good growth in production of cement, coal and electricity.
At the same time, the manufacturing PMI in India also performed better, which increased to 55.3 in October, from 55.1 in September. The GST collection in October stood at Rs 1.52 trillion, which is the second largest collection ever.
Excited by India’s better macroeconomic data
Auto sales also witnessed a tremendous growth in October. In the festive season, consumers shop heavily. Several car makers saw record growth in their sales. Overall, due to the strength of economic indicators in India, the market remains bullish and foreign investors continue to buy, say market experts. Domestic demand has improved due to an increase in consumption during the festive season. Production growth of core industries also improved in September, and GST (Goods and Services Tax) collections are on track to reach new highs for October.
Apart from this, investor confidence has also increased due to better than expected earnings of Indian companies in the third quarter. Almost half of the 50 companies of Nifty have released their results. Out of these, the results of more than 17 companies have been better than expected.
Tags: business news, Multibagger stock, mutual fund investors, stock market
FIRST PUBLISHED : November 04, 2022, 15:00 IST