Read more about FPIs turn net sellers after 6 months; withdraw Rs 9,659 crore in April on Business Standard. This was the first net withdrawal since September 2020, when they had pulled out a net of Rs 7,782 crore from equities
FPIs net sellers after 6 months amid Covid 2.0
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Last Updated: May 02, 2021, 11:27 AM IST
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Synopsis
The selling by FPIs is a near-term phenomenon and unlikely to pose a big risk as fundamentals of Indian equities continue to remain sound, Binod Modi, head strategy at Reliance Securities, said.
Apart from equity, FPIs have offloaded debt securities worth a net of Rs 118 crore last month.
NEW DELHI: Snapping their six-month buying spree, foreign investors turned net sellers in April and pulled out Rs 9,659 crore from Indian equities, spooked by the intense second wave of coronavirus and its fallout on the economy. If the fears of COVID-19 increases among foreign investors, we can witness further redemptions, which can result in some more volatility in the market, Harshad Chetanwala, co-founder Mywealthgrowth.com, said.
Sensex declines 202 points after choppy trade; Nifty ends below 14,350
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Bombay Stock Exchange (BSE), in Mumbai. File
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PTI Equity benchmark Sensex declined 202 points on Friday, tracking losses in ICICI Bank, Infosys and HUL amid persistent concerns over the economic impact of the second wave of COVID-19 pandemic in the country. After a volatile session, the 30-share BSE index ended 202.22 points or 0.42 % lower at 47,878.45. Similarly, the broader NSE Nifty dropped 64.80 points or 0.45 % to 14,341.35. M&M was the top loser in the Sensex pack, shedding over 2 %, followed by Dr Reddy’s Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys.