FPI investments hit 10-mth high in June

Foreign portfolio investors (FPIs) have pumped ₹47,148 crore into Indian equities in June, making it the highest inflow in 10 months, enthused by the country's steadily improving macroeconomic fundamentals.

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However, inflows in July may be subdued as FPIs might adopt a cautious stance due to the recent comments from the US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said.

Besides, VK Vijayakumar, chief investment strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective.

FPIs invested a net sum of ₹47,148 crore in Indian equities in June, according to the data.