Investors lose ₹60 trillion in little over 100 days; pain to continue
Live MintMUMBAI : The recent equities sell-off, led by aggressive offloading by foreign portfolio investors, has eroded investor wealth worth nearly ₹60 trillion in the past three and a half months. The sell-off has been led by FPIs who have offloaded cash market or secondary shares worth a net ₹1.85 trillion since October through 12 January amid a falling rupee and rising crude oil prices due to fresh US curbs on Russia, showed data from National Securities Depository Ltd and BSE Ltd. Meanwhile, domestic institutional investors, led by mutual funds, have net purchased shares worth ₹2.18 trillion from the secondary market over the same period, showed BSE data. However, FPI buying looks unlikely to happen soon with the rupee weakening and crude rising because of rising bond yields in the US ahead of President-elect Donald Trump's inauguration and the latest round of sanctions imposed by the outgoing Joe Biden administration on Russian tankers and maritime insurers.