REITs become net buyers in June; invest Rs 12,714 crore in Indian markets, Auto News, ET Auto


NEW DELHI: After remaining net sellers for two consecutive months, Foreign Portfolio Investors (REITs) in June turned into net buyers by injecting a net crore of Rs 12,714 into Indian markets. Prior to that, foreign investors had withdrawn Rs 2,666 crore in May and Rs 9,435 crore in April.

According to data from custodians, REITs invested 15,282 crore rupees in stocks between June 1 and June 25.

At the same time, REITs withdrew Rs 2,568 crore from the debt segment.

The total net inflow amounted to Rs 12,714 crore during the period under review.

Bajaj Capital and MD Co-Chairman Sanjiv Bajaj said the influx in June was due to “favorable global signals and improving outlook for the Indian economy amid sharp decline in COVID cases -19, an easing of lockdown restrictions in some parts and an -increasing choice in vaccination. ”

India may witness a V-shaped growth recovery amid forecasting a normal monsoon, favorable monetary policy, a corporate sector deleveraging record and a strong banking system. capitalized, he added.

Geojit Financial Services Chief Investment Strategist VK Vijayakumar said: “High delivery volumes in the IT (information technology) and metals sectors indicate strong institutional buying. ”

Kotak Securities Executive Vice President (Technical Equity Research) Shrikant Chouhan said that overall, the MSCI Emerging Markets Index gained nearly 1.49% this week.

With the exception of India and Indonesia, all major emerging markets and Asia have seen REIT outflows this month to date, he added.

Indonesia has recorded FPI inflows of $ 363 million to date. On the other hand, Taiwan, South Korea, Thailand and the Philippines recorded REIT outflows of $ 2,426 million, $ 1,218 million, $ 124 million and $ 64 million, respectively, a he declared.

Himanshu Srivastava, Associate Director of Morningstar India (Research Manager), said: “From a long-term perspective, India would attract foreign investment as the macroeconomic environment improves and the domestic economy begins. to follow the path of recovery.

So far, the ultra-flexible monetary policy stance of central banks around the world to support the economy in the wake of the coronavirus pandemic had opened the doors of foreign money to emerging markets like India, a he added.

However, the hawkish statement by the US Federal Reserve rocked sentiment and prompted foreign investors to be cautious, he said.

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