Mumbai: The ongoing market rally has succeeded in attracting foreign investors back to Indian equities this October as Foreign Portfolio Investors (FPIs) have poured over Rs 6,000 crore into the equity market so far this month.

According to data from the National Securities Depository Limited (NSDL), FPIs invested Rs 6,480 crore in equities till October 17. This comes after three consecutive months of net selling by foreign investors.

In the previous months, FPIs had offloaded Rs 23,885 crore in September, Rs 34,993 crore in August, and Rs 17,741 crore in July.

Market analysts said, “The main reason behind this shift in FII strategy is the narrowing valuation gap between India and other markets.”

“India’s relative underperformance over the past year has opened up opportunities for bet

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