New Delhi, Oct. 22 -- It appears that overseas investors have altered their bearish stance on Asia's third-largest economy, turning net buyers in October after three consecutive months of selling through September.

The strong start to the September quarter earnings and attractive valuations, coupled with signs of recovery in domestic growth, have seemed to change the FPIs' outlook, as evidenced by the slowdown in their sustained selling and resumption of adding Indian stocks to their portfolios.

The renewed interest also propelled the front-line indices to edge closer to their record highs, with Nifty 50 and Sensex now just 1.55% away from reaching their September 2024 peaks.

Having withdrawn billions from local equities earlier in sea...