Foreign portfolio investors have bought equities worth a record $8 billion in November so far encouraged by improving macro-economic data and good corporate results for the September quarter. With this the total investment in 2020 so far is nudging $15 billion,on the back of $14.23 billion in 2019.
The abundance of liquidity globally has prompted foreign funds to deploy some of it in Asian equities. FPIs had picked up stocks worth$2.8 billion in October and continued to remain buyers even though the Indian market is at its most expensive ever trading at multiples that are way above historical averages.