The benchmark Nifty50 Index has gained the most among major global markets, soaring 13.8 per cent since June 17, when it had dropped to its lowest levels in 13 months
The FPI Advisory Committee (FAC) will be chaired by KV Subramanian, and consists of 14 other members representing foreign banks, stock exchanges depositories and the RBI
In July, they were net-buyers after nine consecutive months of selling
The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021
What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.
Since 2014, FPI ownership in top-75 companies has declined by 232 basis points to 24.8 per cent
More than the Fed's hike, it is the commentary that would impact market sentiment
Sensex closes at highest level since June 6; Up 8% from CY22 lows
The intensity of selling is the highest-ever the Indian market has witnessed as FPI selling this year has neared $30 billion (Rs 2.3 trillion)
The key risks to India's economy, and thus the markets, stem from crude oil prices and a worsening balance-of payment situation, Credit Suisse analysts said
FPIs' stake down over 400 bps in both, move paves way for global index inclusion of merged unit
Experts say recent returns are a huge factor impacting incremental inflows into the market
FPIs increased their allocations to the oil and gas sector by 44 bps and the power sector by 21 bps
In the past fortnight, the average daily selling by overseas funds has moderated to less than Rs 1,400 crore, compared with nearly Rs 3,500 crore in the preceding fortnight
FMCG, construction materials were among other sectors to see large outflow, while metals, power, discretionary consumption and telecom saw inflows
Some got incremental inflows even amid the exodus, reveals fortnightly depository data
Market players also attributed technical factors to the rebound and said it is too early to call it a reversal in fortunes
If 14,500 support levels for Nifty are breached, a dip till 13,250 is possible
Benchmark indices shed over 5% each as investors take money off risky assets amid fears of global recession after US Fed's 75 bps rate hike
Move follows addition to the FTSE index; adjustment to take place on Friday