Foreign investors selling Indian equities due to ‘profit booking’: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman Monday said the foreign institutional investors (FII) are selling Indian equities lately due to the profit booking.
Union Finance Minister Nirmala Sitharaman Monday said the foreign institutional investors (FII) are selling Indian equities lately due to the profit booking.
India continues to attract foreign investors who bet heavily on the country’s growing population, rising consumer market, and a young and dynamic labour force.
The event held in New Delhi and graced among others by Chief Minister Mohan Charan Majhi, was attended by Ambassadors, High Commissioners, Consul-Generals, Trade Commissioners, and senior diplomats from 34 countries.
Foreign investors have injected close to Rs 33,700 crore in domestic equities so far in September, according to data available with the depositories.
Foreign investors have infused Rs 7,320 crore in the Indian equities in August owing to high valuation of stocks.
The development comes amid the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts.
In July, foreign investors infused Rs 32,365 crore into Indian equities on the back of expectation of continued policy reforms and sustained economic growth and better-than-expected earnings season.
As per the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net inflow of Rs 30,772 crore in equities this month (till July 19).
This is a strong comeback after a steep decline in the FPI investment amid uncertainty over election results in May.
This owes it to uncertainties about the outcome of the general elections and attractive valuations of Chinese markets.
