Mumbai: The Foreign portfolio investors (FPIs) pulled out Rs 28,243 crore from Indian equities between January 3 and January 28. The FPIs remian net sellers in the Indian capital market as US Fed signaled interest rate hike.
FPIs, invested Rs 2,210 crore into debt segment and Rs 1,696 crore into hybrid instruments. The total net outflow stood at Rs 24,337 crore. Thus the FPIs have become net sellers for fourth consecutive month.
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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. Additionally, investors’ focus will on the upcoming Union budget and state elections in India.
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