FPIs pull Rs 9,015 cr out in July, remain net sellers in Indian mkts

 According to depositories data, FPIs withdrew Rs 6,058 crore from equities and Rs 2,957 crore from the debt segment on a net basis during July 1-17. The net outflow from Indian markets stood at Rs 9,015 crore during the period under review.

 The latest withdrawal has come after investment of Rs 24,053 crore by FPIs in domestic markets in June. Himanshu Srivastava, associate director manager research, Morningstar India said “The surge in markets has been providing profit booking opportunities to them. In addition to that, many states have also been implementing fresh lockdown measure to curb rising coronavirus cases, thus fanning concerns that growth in the domestic economy could be pushed further ahead.”

 “Most emerging markets barring South Korea witnessed FPI outflows this week,” Rusmik Oza, executive vice president, head of fundamental research at Kotak Securities stated.