In July, foreign portfolio investors invested a net worth of 117.63 billion rupees in Indian IT stocks, the highest since 2022’s sectoral reclassification. Analysts attributed this to potential US interest rate cuts and positive earnings reports from companies like Tata Consultancy Services and Infosys. However, the financial sector witnessed outflows due to moderating net interest margins and higher credit costs, even as overall inflows reached a four-month high.