Mumbai: The Foreign portfolio investors (FPIs) remained net sellers in the Indian equity market and pulled out Rs 6,834 crore in the first four trading sessions. FPIs have withdrawn Rs 3,627 crore from equities, Rs 3,173 crore from debt segment and Rs 34 crore from hybrid instruments in February so far.
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FPIs have been net sellers for fourth consecutive months. As per market experts, FPIs have sharply increased the selling pace after the US Fed announcement last week in which it indicated an end of the ultra-loose monetary policy regime. As per market experts, Reserve Bank of India’s determination to curb high inflation and US Federal Reserve’s commencement of asset tapering after hiking borrowing costs will likely keep equity markets volatile. According to them, the rising crude oil prices and inflation will support the foreign fund outflow.
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