FIIs pull out $5 billion from debt, equity mkts

Overseas investors pulled out Rs 29,191 crore (over $5 billion) from the Indian debt and equities in less than a month due to weakness in the rupee.

Foreign institutional investors (FIIs) were gross buyers of debt securities worth Rs 8,385 crore, while they sold bonds amounting to Rs 32,549 crore translating to a net outflow of Rs 24,163 crore ($4.2 billion), as per market regulator Securities and Exchange Board of India (Sebi) data.

Moreover, FIIs have sold Rs 5,028 crore ($848 million) worth of equities in June so far. However, the total foreign investment in the country’s equity market is still Rs 78,176 crore ($14.5 billion) so far this calendar year.