FPIs turn net sellers, drawRs 4,200 cr in equities
This came after FPI investment in equities had hit a four-month low of Rs 12,262 crore in August.
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NEW DELHI: After six months of consistent buying, foreign portfolio investors (FPIs) have turned net sellers to pull out Rs 4,200 crore from equities in September, so far, on rising US bond yields, a stronger dollar and concerns over global economic growth.
The outflow of foreign portfolio money could continue in the coming week or two, Nitasha Shankar, Chief Investment Advisor, YES Securities (I) Ltd, said. “We also need to keep an eye on the sharp volatility in the rupee, which could impact FPI flows going ahead,” he added.
FPIs pulled out a net sum of Rs 4,203 crore from the equities, so far, this month (till September 8). This came after FPI investment in equities had hit a four-month low of Rs 12,262 crore in August.
Prior to this, FPIs were incessantly buying Indian equities in the last 6 months (from March) and brought in Rs 1.74 lakh crore during the period.
