Foreign portfolio investors sell Rs 17,083 crore of equities in May
According to data provided by National Securities Depository Ltd (NSDL), FPIs, on a gross basis, purchased Rs 108,959 crore worth of equities and sold Rs 126,042 crore till May 10.
FPIs sell Rs 17,083 crore of Indian equities in May so far (File Image) Foreign portfolio investors (FPIs) net sold Rs 17,083 crore of Indian equities in May so far amid hardening of US bond yields and outperformance of Chinese and Hong Kong markets.
According to data provided by National Securities Depository Ltd (NSDL), FPIs, on a gross basis, purchased Rs 108,959 crore worth of equities and sold Rs 126,042 crore till May 10. In April, overseas investors dumped Rs 8,671 crore of domestic shares.
Heavy selling by FPIs also contributed to the fall in benchmark stock market indices, Sensex and the Nifty 50, which declined by 2.6 per cent each, in the current month.
Geojit Financial Services Chief Investment Strategist V K Vijayakumar said that a major trend in the market is the aggressive selling by FIIs (foreign institutional investors) so far this month. It is important to understand that there is a new factor triggering FII selling, apart from the high US bond yields. This is the outperformance of the Chinese and Hong Kong markets.
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