Foreign portfolio investors (FPIs) made significant net purchases of Indian debt on January 1, amounting to Rs 7,524 crore, the highest single-day inflow in seven months. This surge follows net buying of Rs 986 crore in December and net selling of Rs 4,157 crore in November. Market participants suggest the inflow might be due to fresh annual allocations or passive flows at the year's start, noting that the day's auction and price action were weak, indicating it could be a one-off event with limited continuity.