FPIs net sellers in Nov at Rs 949 cr

New Delhi

As per the depositories data, they pulled out Rs 4,694 cr from equities between November 1-12. They pumped Rs 3,745 cr in the debt segment. This translated into total net withdrawal of Rs 949 cr. In October, FPIs remained net sellers at Rs 12,437 cr. FPIs have been worried about higher valuations of Indian equities, which continue to trade near all-time high levels, said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India. FPIs sitting on profit, would have chosen to book the same which is reflected in the flow trend over last few weeks. Concerns over the global inflationary pressure and slowdown in some of the developed economies are also worrisome factors.“It appears FPIs are exiting on valuation concerns. The important point to note is that the old scenario where FPIs representing smart money dictated market trends is over for the present…,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.