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FPIs sell-off continues; take out Rs 8k cr from equities
The Business Guardian
|October 09, 2023
During the first week of October, Foreign Portfolio Investors (FPIs) divested Indian equities amounting to Rs 8,000 crore, primarily due to the appreciation of the dollar and the consistent increase in US bond yields.
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This follows their shift to being net sellers in September, withdrawing Rs 14,767 crore. Prior to this outflow, FPIs had consistently been purchasing Indian equities over the last six months, from March to August, infusing Rs 1.74 lakh crore during this timeframe.
Going ahead, FPIs are unlikely to turn buyers in the market soon in the context of the elevated dollar and US bond yields, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) sold shares to the tune of Rs 8,000 crore in this month (till October 6).
India continues to be on top of emerging economies in attracting FPI this year, but September witnessed selling and October has begun with the same trend.
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