Business News | Foreign Investors Continue Sell-off in Indian Stocks; Sold Rs 34,605 Crore in 2023
Get latest articles and stories on Business at LatestLY. FPIs have sold assets worth about Rs 28,852 crore in Indian stock markets in January 2023, the data from National Securities Depository showed.
Mumbai (Maharashtra) [India], February 5 (ANI): Foreign portfolio investors (FPIs) continue their selling spree in Indian stock markets.
FPIs have sold assets worth about Rs 28,852 crore in Indian stock markets in January 2023, the data from National Securities Depository showed.
So far in February, they sold another Rs 5,753 crore worth of stocks in India. In Total, they withdrew Rs 34,605 crore in 2023.
Foreign investors are apparently cautious amid risks from the ongoing volatility in Indian stock markets.
Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons. Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.
In 2022, foreign portfolio investors sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the data on the NSDL website showed.
Meanwhile, their appetite for debt instruments has somewhat seemed to have improved. FPIs have bought debt assets worth Rs 9,033 crore, NSDL's latest data showed. (ANI)
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