Foreign Portfolio Investors pull out Rs 11,392 cr in September

Foreign portfolio investors (FPIs) have turned big sellers in the stock market. FPIs have pulled out Rs 11,392 crore in September amid expectations of a rate hike by the US Federal Reserve and slowdown in India’s economy.

By: ENS Economic Bureau | Mumbai | Published: October 2, 2017 1:37 am
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Foreign portfolio investors (FPIs) have turned big sellers in the stock market. FPIs have pulled out Rs 11,392 crore in September amid expectations of a rate hike by the US Federal Reserve and slowdown in India’s economy. FPIs had taken out Rs 12,770 crore in August as they booked profits after a run-up in valuations in 2017.

FPI investment in debt also slid to Rs 1,349 crore in September against Rs 15,447 crore in August. Total FPI investment in equity in 2017 so far has come down to Rs 34,352 crore and debt Rs 129.863 crore. On September 28, FPIs sold over Rs 5,200 crore in the equity market. “Many emerging markets are witnessing outflows. India is no exception. Valuations here are already high and the macroeconomic outlook is weak,” said an analyst.

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