Mumbai: Foreign Portfolio Investors (FPI) withdrew Rs 35,137 crore from the Indian equity market in May. FPIs also withdrew a net amount of Rs 6,133 crore from the debt market during May. The concerns over the prospects rate hike by US Federal Reserve and gaining of the US dollar against the Indian rupee influenced the investors.
Foreign investors remained net sellers for seven months to April 2022. They withdrew more than Rs 1.65 lakh crore from equities in this year. As per market experts, foreign fund outflow may continue in the coming weeks also due to rising crude oil prices, inflation and tight monetary policy.
Apart from India, other emerging markets, including Taiwan, South Korea, Indonesia and the Philippines, witnessed outflow in May till date.