Foreign portfolio investors (FPIs) were net sellers to the tune of Rs 2,837 crore in Indian markets during Monday’s trade, the first trading session after RBI Governor Raghuram Rajan’s surprise announcement over the weekend that he would not take the second term after end of his current three-year tenure on September 4.
According to NSDL data, the net outflow by FPIs in equities stood at Rs 528 crore, while in the debt market they were net sellers to the tune of a whopping Rs 2,310 crore.
Their overall net outflow at Rs 2,837 crore on Monday was highest for a single day since March 29, while their equities net outflow was also maximum in about a month since May 25.
The data released by markets regulator Sebi showed that mutual funds bought shares worth Rs 1,462 crore and sold Rs 1,003 crore on Monday, resulting in a net purchase worth Rs 459 crore. For debt market, they were net buyer of shares worth Rs 1,215 crore.
As per the data from stock exchanges, all domestic institutions put together made a net inflow of Rs 724.06 crore in equities, which was more than the net outflow due to sell-off by FPIs, thus helping the stock markets move higher.