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FPI offloading continues
Foreign investors have pulled out nearly Rs9,800 crore from Indian equities this month so far owing to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict.
New Delhi: Foreign investors have pulled out nearly Rs9,800 crore from Indian equities this month so far owing to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict.
This came after Foreign Portfolio Investors (FPIs) turned net sellers in September and pulled out Rs14,767 crore. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs1.74 lakh crore during the period. This inflow was largely due to the reduction in US inflation from 6 per cent in February to 3.2 per cent in July.
The temporary pause in the US Federal rate hike from May to August also played a role, Kislay Upadhyay, smallcase manager and Founder of FidelFolio Investments, said.
