New Delhi [India], May 1 (ANI): Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the second straight month after having sold two months on a trot in January and February, latest data from the National Securities Depository (NSDL) revealed.

FPIs bought assets worth Rs 11,631 crore in Indian stock markets in April, according to NSDL data. In March, they bought assets worth about Rs 7,936 crore in Indian stock markets.

Also Read | Padlock on Grave Photo: Viral Picture of Grave With Iron Grille Is From Hyderabad, Not Pakistan.

The recent banking crisis in the US following the collapse of Silicon Valley Bank in early March and the relatively strong economic outlook for India seemed to have made renewed appetite for domestic stocks.

One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which had been struggling, collapsed on March 10, after a run on the bank by the depositors. Its closure led to a contagion effect and the subsequent shutting down of other banks.

Also Read | International Workers’ Day 2023 Images & May Day HD Wallpapers for Free Download Online: Wish Happy Labour Day With WhatsApp Messages, Quotes and Greetings on May 1st.

In January and February, FPIs sold equities worth Rs 28,852 crore and Rs 5,294 crore, respectively. NSDL data showed. Foreign investors were apparently cautious amid risks from the then volatility in Indian stock markets.

Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.

Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had then triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.

In 2022, foreign portfolio investors sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the historical data available on the NSDL website showed. (ANI)

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)