Street signs: FPI flows turn net buyers, Tata Tech shares firm up, and more

FPI flows: March a mirage, not an oasis

After being net sellers in the preceding two months, foreign portfolio investors (FPIs) turned net buyers in March. So far this month, FPIs have been net buyers of Rs 13,540 crore. On a year-to-date basis, FPIs have been net sellers to the tune of Rs 20,606 crore. However, this month’s positive tally is underpinned by a few large block deals, including the stake sale by Adani Group promoters. “Some large block deals may be offering a distorted picture of the FPI numbers. Volatility is heightened because of rate-hike fears and the Silicon