PUMPING IT UP

If there’s one class of investors that has been buying into the India growth story despite gloom on all major economic parameters, it is Foreign Portfolio Investors (FPIs). They have pumped in over ₹92,477 crore, on a net basis, in Indian equities since January this year. The flows have especially picked up in the last couple of months, which is driving the current rally in Sensex, which breached the 41,000-mark on November 28.

FPIs have always been extremely calculated in their India stance. The timing of their entry and exit reflects both political and economic environment. Just ahead of the general elections this year, they were net buyers to the