FII selling crosses ₹2 trillion in FY25, may cross FY22 record
Live MintInvestors exiting India have net-sold over ₹2 trillion worth of shares this fiscal, setting the stage for what could be the worst year for foreign portfolio outflows on NSE's secondary market. As US bond yields rose and quarterly earnings disappointed amid lofty valuations, foreign institutional investors net-sold a record ₹1.17 trillion in the secondary market in NSE's cash segment in October. Going by November's overall cash market sales, it could cross FY22's record ₹2.8 trillion outflows by the end of the fiscal year. "While there is no doubt among global investors on India's long-term growth prospects, near-term hiccups have risen because of rising dollar bond yields and tepid earnings growth of India Inc., which will have to pick up in the forthcoming quarters to stem outflows as valuations in pockets of the market still remain high," Mohanty explained.