After strong inflows in 2023, foreign portfolio investors (FPIs) turned net sellers in the first month of 2024, January. FPIs sold Indian equities worth ₹25,744 crore during the month on the back of a rise in US bond yields. Will the selling continue?
FPIs bought Indian equities worth ₹9,001 crore after selling shares worth ₹24,548 crore in October and ₹14,767 crore in September, data with the depositories showed.
FPIs extended their selling streak in October, withdrawing ₹24,548 crore from Indian equities, on the back of spiking US Treasury yields and a rise in crude oil prices.
August also marked a sixth straight month of inflows into Indian stocks. With this years inflows, foreigners are now just $137 million shy of reversing their record $17 billion exodus from the nations equities in 2022.