Financial Services News

FPIs: FPIs increase bets on banks as credit growth picks up


FPIs’ total equity portfolio was valued at $602 billion at the end of November 15.

Synopsis

The amount of FPI inflows in financial services during the fortnight is the highest in the sector since February 2021. As a result, the share of financial services in FPIs’ equity portfolio reached 32.28% as of November 15, 2022 – the highest in 18 months. Financial services is the highest weighted sector for the FPIs.

ET Intelligence Group: Improving credit demand – a leading indicator of growth – and a sharp turnaround in earnings of public sector banks have made foreign investors raise their bets on Indian financial services stocks as they reversed their outlook on equities of Asia’s third-largest economy in the last one month.

Foreign portfolio investors (FPIs) invested over 39% of their total inflows of $3.5 billion in the fortnight ended November 15 in

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