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Foreign investors to support Indian stocks in 2023, says Motilal Oswal AMC's Manish Sonthalia

Manish Sonthalia believes the bull run in Indian equities will continue moving forward and market performance will get stronger moving forward.

December 02, 2022 / 09:07 AM IST
Manish Sonthalia of Motilal Oswal AMC

Manish Sonthalia of Motilal Oswal AMC

Foreign institutional investors will continue to buy Indian stocks and support the markets in 2023 based on strong earnings and upbeat outlook for FY'23 and FY'24, said Manish Sonthalia, head equities-PMS at Motilal Oswal Asset Management Company.

"India is one of the shining stars in the emerging market space and FIIs have turned buyers," Sonthalia said in an interview with CNBC-TV18. "The buying (of stocks) is only going to accelerate into the next year."

He believes the bull run in Indian equities will continue moving forward and market performance will get stronger moving forward.

According to Bloomberg-compiled data, global funds bought around a net $3 billion of India stocks in November. Holdings of foreign investors in long index futures rose by about six times from their September lows, while short bets dropped 76 percent over the same period.