India, Aug. 16 -- Foreign investors continued their buying spree in Indian equities, investing Rs 16,621 crore in the first fortnight of August, as improving relative valuations, resilient corporate earnings and expectations of softer US interest rates boosted sentiment.

The inflow follows a Rs 20,200-crore investment in July, marking a sharp turnaround after four consecutive months of heavy selling by Foreign Portfolio Investors (FPIs).

FPIs had withdrawn Rs 49,340 crore in June, Rs 32,963 crore in May, Rs 60,847 crore in April and a massive Rs 1.17 lakh crore in March. Prior to this selling streak, they had invested Rs 22,615 crore in February, according to CDSL data.

Despite the recent buying, foreign investors have remained net sel...