Foreign Portfolio Investors (FPIs) demonstrated strong confidence in Indian equities in May, investing a total of $2.32 billion, an eight-month high. Telecom and services sectors led gains with significant inflows, driven by positive market momentum and strong earnings.

• FPIs invested $946M in telecom stocks (6th month running).
• Overall, FPI inflows hit $2.32B, an 8-month peak.
• Services sector saw $933M inflows, the second highest.