FPIs cut bearish bets as India buying picks up
In short
Foreign investors bought more Indian shares and cut bearish bets, taking short positions down to 75%.
That helped the Nifty rise 10.3% in seven sessions and gave the rupee support.
What the reporting says
Foreign portfolio investors have stepped up equity purchases and reduced bearish bets, with short positions falling to 75%. The move helped lift the Nifty 10.3% in seven sessions and supported the rupee.
Why it matters
Foreign portfolio investors have increased equity buying and reduced short positions in India. The move points to improved market sentiment, with foreign flows acting as a support for equities and the currency.