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FPI increase wager on banking stocks in September quarter, shows data

During the quarter ended September 30, FPIs pumped in Rs 7,500 crore (over $1 billion) into banking stocks

FDI, INVESTMENT, investment, foreign investment, foreign direct investment, FPI, dollar inflow, GROWTH, MARKETS, FUNDS, SHARES, DEMAND, GROWTH, mutual fund, fund, stocks
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In the banking space, most flows have gone into top lenders, such as HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank, analysts say

Samie Modak Mumbai
Overseas investors seem to have taken a liking to domestic lenders. During the quarter ended September 30, they pumped in Rs 7,500 crore (over $1 billion) into banking stocks. Since April, they have invested about Rs 12,500 crore into banking stocks, second only to energy stocks —which saw an investment of Rs 13,400 crore. Analysts say the bulk of FPI flows into the energy sector in FY21 has gone into Reliance Industries, the country’s most-valuable firm. FMCG stocks have grabbed the third — the highest share of FPI flows this financial year at Rs 11,500 crore. But, during the September