Foreign Portfolio Investors (FPIs) have turned net buyers of Indian equities during the first week of November. According to the latest depository data, FPIs have invested 38,971 crore rupees in the domestic stock market, marking a reversal in investment flows. Of the total investment, 38 thousand 519 crore rupees came through purchases on stock exchanges, while 452 crore rupees were invested through the primary market.

The shift in FPI’s sentiment was due to sharp sell-off in global technology stocks, triggered by concerns over artificial intelligence-related investments and a possible slowdown in data centre spending. The recent correction in global AI stocks has made Indian equities more attractive to overseas investors.

Meanwhile, the debt market witnessed net inflows of 4,319 crore rupees in November so far.