In September, foreign investors poured Rs 57,359 crore into Indian equities, making it the highest inflow in nine months, mainly driven by a rate cut by the US Federal Reserve.

Foreign portfolio investors’ (FPIs) investment in equities has surpassed the Rs 1 lakh crore mark in 2024, data with the depositories showed.

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Notably since June, FPIs have consistently bought equities after withdrawing Rs 34,252 crore in April-May. Overall, FPIs have been net buyers in 2024, except for January, April, and May.

As per the data, FPIs made a net investment of Rs 57,359 crore in equities until September 27, with one trading session still left this month.

This was the highest net inflow since December 2023, when FPIs had invested Rs 66,135 crore in equities.

In the debt markets, FPIs infused Rs 8,543 crore through the Voluntary Retention Route (VRR) and Rs 22,023 crore via the Fully Accessible Route (FRR) in September.

In terms of FPI inflows, the Hong Kong market was the top performer in September, with the Hang Seng index rising 14 per cent.

It is to be highlighted that the 50 basis points rate cut by the US Fed on September 18 increased the liquidity in the Indian markets since the Indian rupee was aided by currency fluctuations.