Bank, finance stocks make for nearly half of FPIs' record investment in Nov

Foreign portfolio investors (FPIs) invested $8.1 billion in domestic stocks during November — a record for any calendar month. Nearly half of this went into banking and financial stocks, an analysis by domestic brokerage Edelweiss Securities revealed. 

The liquidity gush saw the financial pack outperform the markets by a huge margin: The Bank Nifty index jumped 24 per cent, twice the gain made by the Nifty50 index in November. The inflows into the financial sector nearly equalled the combined flows into the next nine.

Experts said banking is a play on the economy and the latest buying into this space is underpinned