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Foreign Portfolio Investors (<keyword id="2005494" type="General" weightage="100" keywordseo="FPIs" source="Orion">FPIs</keyword>) continued their bullish stance on the country's debt markets with a net infusion of over Rs 15,000 crore so far this month, on the back of inclusion of Indian government bonds in the JP Morgan Index along with relatively stable economy. This followed a net investment of Rs 19,836 crore in January, making it the highest monthly inflow in more than six years. This was the highest inflow since June 2017, when they infused Rs 25,685 crore. On the other hand, foreign investors pulled out more than Rs 3,000 crore from equities during the period under review. Before this, they withdrew a massive Rs 25,743 crore in January, data with the depositories showed. "The main trigger for this divergent trend in equity and debt is the high valuation in the Indian equity market and the rising bond yields in the US," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, attributed the outflow from equities to the uncertainty surrounding the interest rate environment, both domestically as well as globally. According to the data, FPIs made a net investment of Rs 15,093 crore in the debt markets in this month (till February 9). With this, the total investment by FPIs reached over Rs 34,930 crore in 2024. They have been injecting money in the debt markets for the past few months. FPIs infused Rs 18,302 crore in the debt market in December, Rs 14,860 crore in November, and Rs 6,381 crore in October. "The Indian debt markets witnessed a reversal in FPI flow trend last year after the announcement of inclusion of Indian government bonds in the JP Morgan Index. This was one of the major drivers for the robust flows from FPIs, along with relatively stable economy," Srivastava said. JP Morgan Chase &amp; Co. in September last year announced that it will add Indian government bonds to its benchmark emerging market index from June 2024. This landmark inclusion is anticipated to benefit India by attracting around USD 20-40 billion in the subsequent 18 to 24 months. This inflow is expected to make Indian bonds more accessible to foreign investors and potentially strengthen the rupee, thereby bolstering the economy, he added. Overall, the total FPI flows in 2023 stood at Rs 1.71 lakh crore in equities and Rs 68,663 crore in the debt markets. Together, they infused Rs 2.4 lakh crore into the capital market. The flow in Indian equities came following a worst net outflow of Rs 1.21 lakh crore in 2022 on aggressive rate hikes by the central banks globally. Before the outflow, FPIs invested money in the last three years.

FPIs infuse over Rs 15,000 crore in debt mkt in February

Economy not in trouble; green shoots visible:FMNew Delhi, Feb 11 () Finance Minister NirmalaSitharaman on Tuesday said the economy is not in trouble andgreen shoots are visible with the country moving towards a USD5 trillion economy.Listing initiatives taken by the government, she said,increasing Foreign Direct Investment (FDI), rise in factoryoutput and over Rs 1 lakh crore GST collection in the pastthree months are indications of green shoots in the economy."There are seven important indicators which show thatthere are green shoots in the economy...economy is not introuble," she said while replying to a debate on the UnionBudget in Lok Sabha. Referring to visible indicators of green shoots, theFinance Minister said the forex reserve is at an all time highand the stock market is upbeat."Global sentiment is in favour of India. Foreigninvestors continue to show confidence in India and that is whythe country has attracted a net FDI of USD 24.4 billion inApril-November 2019-20 as against USD 21.2 billion in the sameperiod the previous year," she said.Net Foreign Portfolio Investment (FPI) in April-November2019-20 was positive at USD 12.6 billion as against USD 8.7billion in the same period last fiscal.She further said the gross GST (Goods and Services Tax)revenue collected in January 2020 grew at 12 per cent while inNovember 2019, it was 6 per cent."So there is a steady growth and therefore negativegrowth, which it showed in September and October, has beencorrected and we are on a positive growth trajectory and thiswill obviously bring in greater and newer investments to theeconomy and it will also reduce the business cost," she addedThere are seven green shoots based on which the economynow very clearly moving forward, she added.The Finance Minister said the government's focus is onfour engines of growth which include private investment,private consumption, public investment and exports.With regard to public investment, she said, thegovernment in December announced a National InfrastructurePipeline.It envisages investment of Rs 103 lakh crore forinfrastructure development across the country in the next fouryears (till 2024-25), she said.To boost consumption, the government has increased theMinimum Support Price of all mandated Rabi and Kharif cropsfor 2019-20.The Minister also took a dig at Congress leader PChidambaram while referring to the fiscal deficit numbersduring the UPA regime.The fiscal deficit was higher "when the economy wasmanaged by competent doctors," she quipped.Chidambaram on Monday said in the Rajya Sabha that the"economy was perilously close to collapse and was beingattended by incompetent doctors."Sitharaman in Budget raised fiscal deficit target to 3.8per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.The government has used 'escape clause' under the FiscalResponsibility and Budget Management (FRBM) Act which providesit leeway for relaxation of fiscal deficit roadmap during timeof stress.Replying to the opposition charge of the governmentovershooting fiscal deficit target prescribed in FiscalResponsibility and Budget Management (FRBM) Act, she said theNarendra Modi government has always respected FRBM Act everyyear and kept the discipline of FRBM Act.Referring to various initiatives to boost consumption,she said government has increased Minimum Support Price,introduced pension scheme for traders, lowered GST ratesabolished Dividend Distribution Tax and corporate tax. RRJTR DP CSDV DV

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FPIs infuse over Rs 15,000 crore in debt mkt in February

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