FIIs invested nearly Rs 64 billion in November, the highest since March

Foreign institutional investors (FIIs) flows have made a comeback. In November, overseas funds invested nearly Rs 64 billion ($890 million) —most since March. The buying helped the benchmark indices rally five per cent—their biggest monthly showing since July. 

The reversal of foreign flows comes after two months of heavy sell-off amid surging US bond yields and dollar. Deteriorating macroeconomic conditions on account of weakening of the rupee and surging bond yields contributed to the selling. FIIs pulled out $1.3 billion and $3.8 billion in September and October, respectively, pulling down the benchmark indices by as much as 15 per cent.

With US