Flows from FPIs favour banks, financials and FMCGs in CY20, shows data

Flows from foreign portfolio investors (FPIs) saw sharp a reversal in the second half of last year, as the surge in global liquidity made its way into emerging markets (EMs), such as India.

FPI flows from April last year show they have been betting on a revival in consumer demand to drive economic growth, revealed an analysis by Edelweiss Securities. Between April and December, banks and financial services received $8.9 billion, of which $7.5 billion came in the last three months. 

Fast-moving consumer goods (FMCG) garnered $5.14 billion, as sooner-than-anticipated business revival and improving sales figures helped Asian Paints, Titan,