India outperformed all the major global markets in April. Strong inflows from foreign portfolio investors (FPIs), off the back of an improved global risk sentiment and encouraging January-March quarter results, propelled the markets.
The moderation in valuation, following a near-10 per cent correction between December and March, also made investors look at India more favourably.
Notwithstanding a strong showing in April, India is still a straggler on a year-to-date basis. FPIs have invested close to $2.5 billion in domestic stocks in the past two months.