Foreign institutional investors (FIIs) have increased their purchases of shares in India, leading to a revival of the Indian stock market and making it one of the best performing emerging markets. In April alone, FIIs purchased INR11,630 crore ($1.7bn) of shares, compared with INR7,935 crore the previous month. This was based on a series of factors including easing inflation both in India and the US, the Reserve Bank of India’s decision to pause rate hikes, and a good set of March quarter earnings. Financial services, automobiles and fast-moving consumer goods were among the top sectors receiving investment.
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