Markets log third straight monthly advance amid sustained FPI inflows

The Sensex and the Nifty50 rose more than 2% each in May, extending their three-month gain to 5%

Indian markets have gained for a third straight month amid sustained inflows from foreign portfolio investors (FPIs). The Sensex and the Nifty50 rose more than 2 per cent each in May, extending their three-month gain to 5 per cent.
 

The broader markets continued with the performance. The Nifty Midcap 100 index rose 6.2 per cent, while the Nifty Smallcap 100 index added 5.1 per cent — stretching their three-month gain to 10 per cent and 7 per cent, respectively. Among sectoral indices, auto, realty, FMCG and private banks outperformed, while PSU banks saw profit-taking. FPIs pumped in nearly Rs 40,000 crore into domestic stocks in the month.

They have invested close to Rs 70,000 crore since March, even as domestic mutual funds have slowed their pace of investment to less than Rs 18,000 crore during the period.