In June 2024, Indian equities witnessed a Foreign Portfolio Investment (FPI) inflow totaling ₹ 26,565 crore ($ 3,186 million or $ 3.1 Billion), as reported by the National Securities Depository Ltd. (NSDL). This marked a significant increase from May month in 2024.
Overall, FPI inflows for the month totaled ₹41,757 crores ($ 5,007 million or $ 5 billion), which included debt, hybrid, debt-VR, and equities.
As of today’s date in the calendar year 2024, the cumulative investment by foreign portfolio investors (FPIs) amounts to ₹92,116 crore, or $ 111,17 million. This total includes investments in debt, hybrid, debt-VRR, and equity funds.
In June 2024, the Sensex closed with a positive growth of 6.8%, while the Nifty 50 index also saw an increase of 6.6%.
Here are the top sectors that made significant FPI inflows of ₹ 26,565 crore in June 2024
Financial Services sector
In June, the financial services sector saw the largest inflow of FII capital, totaling ₹9,170 crore. At the same time, the S&P BSE Financial Services index registered a 7.5% gain during May month.
Financial Services Index constituents include 360 ONE WAM Ltd, Aditya Birla Capital Ltd., Bajaj Finserv Ltd., AU Small Finance Bank Ltd., Axis Bank Ltd., and many more.
The financial service sector is a major segment of the economy composed of companies and institutions that provide commercial and retail customers with financial services.
Financial services comprise both banking and Non-Banking lending institutions. Insurance and asset management companies are also part of the financial services sector.
Telecommunication sector
In June, the Telecommunication sector saw the second-largest inflow of FII capital, totaling ₹7,944 crores. At the same time, the S&P BSE Telecommunication index registered a gain of 10.90% during June month.
Here are the major IT stocks in this sector such as Idea, Railtel Corporation of India Ltd, OnMobile Global Ltd, Bharti Airtel Ltd, Tejas Networks Ltd, and Indus Towers Ltd.
According to the Mordor Intelligence report, the Indian Telecom sector is projected to achieve a compound annual growth rate (CAGR) of 9.40% by 2029. Within the Telecom sector, there are various subdivisions including infrastructure equipment, White Space Spectrum, Mobile virtual network provider, 5G, Telecom, and Broadband providers.
Consumer Services sector
In June 2024, there was a notable increase in Foreign Institutional Investor (FII) capital inflows into the Consumer Services sector, totaling ₹ 4,704 crore. This marks the third influx of FII funds into this sector for the year, contributing to a 8.9% surge in the S&P BSE Consumer Discretionary index for the month of June.
Some of the famous stocks in the sector include Indian Hotels,Jubilant FoodWorks, Sapphire Foods India Ltd, Indian Railway Catering and Tourism Corporation Ltd. ,Zee Entertainment Enterprises Ltd.
Written by Omkar Chitnis
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