After 6 months of investing, FPIs start selling

FPIs had been consistently buying Indian shares during the previous six months, but in September they turned net sellers and withdrew about Rs 14,767 crore, mostly as a result of the strengthening dollar, an increase in US bond yields, and a rise in crude oil prices.

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Going forward, the outlook for FPI flows in India is uncertain, as it will depend on the performance of the Indian economy, the RBI’s October monetary policy, and the outcome of the September quarter earnings, Mayank Mehra, smallcase, manager and principal partner at Craving Alpha, said. According to data with the depositories, Foreign Portfolio Investors (FPIs) have sold shares to the tune of Rs 14,767 crore in September.