Data with depositors showed that the Foreign Portfolio Investors (FPIs) withdrew a net amount of Rs 13,431 crore from equities so far this month (August 1-9).
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Foreign investors have turned net sellers in August as they pulled out over Rs 13,400 crore from Indian equities due to unwinding of the yen carry trade and recession fears in the US.
The development comes after they infused money during the last two months.
So far this year, FPIs have made a net investment of Rs 22,134 crore in equities, data with the depositories showed.
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The data showed that the Foreign Portfolio Investors (FPIs) withdrew a net amount of Rs 13,431 crore from equities so far this month (August 1-9).
This came following an inflow of Rs 32,365 crore in July on expectation of sustained economic growth, continued reforms and better-than-expected earnings season, and Rs 26,565 crore in June driven by political stability and the sharp rebound in markets.
FPIs withdrew Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields.
Notably, for the fortnight ended July 31, FPIs were sustained sellers in financial services. However, they were buyers in IT, autos, capital goods and metals during the period under review.
On the other hand, FPIs invested Rs 6,261 crore in the debt market in August so far. This has taken the tally to Rs 97,249 crore so far in 2024.
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