After infusing money during the last two months, foreign investors have turned net sellers as they pulled out over Rs 13,400 crore from Indian equities in August so far due to unwinding of the yen carry trade and recession fears in the US.
So far this year, FPIs have made a net investment of Rs 22,134 crore in equities, data with the depositories showed.
Going forward, if the market continues to rise, FPIs are likely to press more sales since Indian stock valuations continue to remain elevated, particularly in relation to valuations in other markets, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
According to the data, Foreign Portfolio Investors (FPIs) withdrew a net amount of Rs 13,431 crore from equities so far this month (August 1-9).
This came following an inflow of Rs 32,365 crore in July on expectation of sustained economic growth, continued reforms and better-than-expected earnings season, and Rs 26,565 crore in June driven by political ...
