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FOREIGNERS DUMP INDIAN STOCKS, RS 24,734 CRORE DISAPPEARS
The Business Guardian
|January 29, 2024
FPI-driven corrections followed by a substantial December influx propelled Indian benchmark stock indices, contributing to a 2023 total inflow of Rs 171,107 crore.
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Foreign Portfolio Investors (FPIs) have shifted their stance in January 2024, turning into net sellers in the Indian equity market after two consecutive months of aggressive buying in November and December. Data from the National Securities Depository Limited (NSDL) reveals that FPIs have sold Indian stocks worth Rs 24,734 crore this month.
The cautious approach by FPIs is attributed to a rise in US yields, prompting investors to exercise caution in emerging markets.
However, FPI inflows into the debt market have continued, supported by India’s inclusion in the JP Morgan bond index and potential inclusion in Bloomberg EM Local Currency indices. This influx in debt has mitigated the impact of outflows from equities.
The recent selling of stocks by FPIs has led to corrections in Indian benchmark stock indices. In contrast,
This story is from the January 29, 2024 edition of The Business Guardian.
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