FPIs Withdraw Rs 6,400 Crore from Equity Markets in May So Far
News 18Foreign investors have pulled over Rs 6,400 crore from the Indian equity market in the first four trading sessions of the ongoing month when the Reserve Bank of India and US Federal Reserve raised interest rates. Given the headwinds in terms of elevated crude prices, inflation, tight monetary policy among others, FPIs’ flows in India are expected to remain volatile in the near term, Shrikant Chouhan, Head – Equity Research, Kotak Securities, said. Foreign Portfolio Investors remained net sellers for seven months to April 2022, withdrawing a massive amount of over Rs 1.65 lakh crore from equities. After six months of selling spree, FPIs turned into net investors in the first week of April amid correction in the markets and invested Rs 7,707 crore in equities.