New Delhi, Sep 10 : FII inflows were at the highest since January 2021, however, DIIs turned net sellers in August after 17 months of buying. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial, said FIIs have been enthusiastic about Indian markets since August 2022, despite noise surrounding the global cues. FIIs have bought more than Rs 20K crore in last 40 days. This has added to overall support in the domestic equities despite of global volatility. Further, fall in crude oil prices to seven-month lows aided domestic sentiments. Fall in crude prices is positive for stocks in oil input sectors like paints, tyres, and airlines. At a time when investability in China is being questioned, shifting geopolitical realities offer India an opportunity to shine, Morgan Stanley said in a report. Coupled with its geopolitical stance, India's economic condition is looking favourable for the rest of this decade. India has not been able to realise the kind of industrial transformation that turned countries like China and South Korea into miracle economies by building their manufacturing capabilities. Instead, India's economic growth was led by services unlike the Asian tigers. Recently there has been a change in the mindset from the Gandhian principles of small is beautiful, to actively incentivising large scale manufacturing capacities through production linked incentive (PLI) schemes, the report said. Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers, said in view of the global uncertainties, foreign portfolio equity investors withdrew $200 billion from major countries during January-March 2022. Countries such as US, France, and Japan registered large withdrawals, and $14 billion was also withdrawn from India. During 2022 so far, $29 billion has been withdrawn from Indian equities by foreign portfolio investors. The large outflow also contributed to rupee weakness. /IANS