COVID-19 impact: FPIs net sellers of Indian equities worth Rs 4,444 cr in May so far businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Foreign Portfolio Investors (FPIs) pulled out Rs 6,427 crore from equities and Rs 25 crore from the debt segment between May 1-14, according to depositories data
FPIs continue to pull out investments from the Indian equities
2 hours ago Picture used for illustrative purpose. Foreign portfolio investors (FPI) continue to pull out investments from the Indian equities amid the severe COVID-19 crisis and the lockdowns across states.
So far in May, FPIs have pulled out a net investment of Rs6,427 crore from the equities segment, showed NSDL data.
The subdued investor sentiments come on the back of the deepened Covid crisis in the country. The lockdowns and restrictions across states also have weakened the prospects of economic recovery, analysts said.
The selling in May continues after FPIs withdrew net investments of Rs9,659 crore in April. The bearish trend last month came after incessant buying in the preceding six months.
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Within one hour after opening markets on Monday, the key Indian equity indices opened on a negative note in the backdrop of Covid surge, with heavy selling in finance and banking stocks. The BSE Sensex plunged as much as 754.29 points to touch an intra-day low of 48,028.07 points.
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