Foreign fund inflow propels markets to 6-month peak, rupee to 2-month high

On Monday, FPIs invested Rs 3,810 crore, lifting the Sensex and Nifty by over a per cent and to their highest close since September 19, 2018

Overseas investors have pumped $3.8 billion (Rs 26,639 crore) into domestic stocks in less than three weeks. The flow of funds has propelled the benchmark Sensex and Nifty indices to six-month highs and the rupee to its highest level in two months. Since February 20, foreign portfolio investors (FPIs) have invested on average $290 million (Rs 2,050 crore) each day. 

Experts said the US Federal Reserve's decision to put interest rate hikes on hold was behind the latest risk-on sentiment of global funds. The stimulus package announced by China and the optimism around the US-China trade agreement has further bolstered