FIIs Fuelling India’s Equity Surge

The adage of ‘sell in May and go away’ might not hold true this year for the Indian equity market. Historically, the month of May has not been very favourable for equity returns. However, this year we are witnessing the frontline equity index gaining around 1.2 per cent with the broader equity indices performing even better. One of the contributing factors to these gains is the increased activity of foreign institutional investors (FIIs) in the Indian equity market. In May, FIIs have been on a buying spree, purchasing domestic equity worth Rs 13,278 crore.