Foreign investors pull out Rs 17,696 cr from Indian market

Foreign portfolio investors (FPIs) have pulled out Rs 17,696 crore from the Indian markets in December so far amid uncertainty due to a new coronavirus strain, Omicron, and expectations of faster tapering by the US Federal Reserve.
According to the depositories data, FPIs took out Rs 13,470 crore from equities, Rs 4,066 crore from the debt segment and Rs 160 crore from hybrid instruments between December 1-17.

In November, FPIs were net sellers to the tune of Rs 2,521 crore in Indian markets.

There continues to be uncertainties on the global as well as domestic fronts, said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India. The concerns over the highly transmissible Omicron variant of coronavirus persist and have impacted global growth outlook, he added. Also, the economic growth has also been relatively slow, and India’s earnings have not grown much,he added.

0

0