How was the FPI buying action in the month of July 2022?

Foreign portfolio investors (FPIs) are back with a bang in July, although that may be too aggressive a word. In July, FPIs infused $618 million into equities, but were net sellers in debt. This is the first month of FPI bying (albeit small) after 9 months of consistent selling. The turnaround could be attributed to sobering of Fed stance but we need to see if the flows from FPIs really sustain in the coming months or whether it is just a flash in the pan and reverts back to selling in the coming months. We have to wait and see.