Busy buying: FPIs bet big on India and Asia in November, shows data

Indian markets witnessed close to Rs 40,000 crore ($4.7 billion) of overseas flows in November — second-most for the calendar year.

The Asia pack (excluding China), as a whole, saw the biggest foreign inflows in nearly two years at $15.7 billion.

Taiwan and India cornered the bulk of these flows, according to data compiled by Bloomberg.
 

Growing hopes that the US Federal Reserve will ease its pace of interest rate hikes has given global markets a big boost in recent weeks.

Also, optimism around China reopening has aided sentiment. Besides these two macro factors, the foreign portfolio investor (FPI) flows into domestic equities were also boosted by the rebalancing of MSCI indices.
 

Indian benchmark indices rose 4 per cent last month, extending their two-month advance to 10 per cent.