Foreign investors invested ₹38,971 cr in Indian stocks
Foreign investors just invested ₹38,971 crore in Indian stocks this week, right as global AI shares are taking a hit over worries about artificial intelligence-related investments and a possible slowdown in data center spending.
The Nifty index is up 7.58%, showing that India's strong earnings and attractive prices are catching attention.
FPIs buy Indian financials it autos
With tech stocks sliding in the US and Asia, FPIs are switching gears and betting big on India, especially in sectors like finance, IT, and autos.
As V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, puts it, "FPIs have turned major buyers in index heavy weights in financials, IT, automobiles and telecom," drawn by steady growth and better value compared to the unpredictable AI scene elsewhere.