FPIs take Rs 11k cr off equities

Foreign investors are turning their back on Indian shares as they pulled out over Rs 11,000 crore from stocks in September due to geo-political concerns, slowdown in corporate earnings and higher valuations.

The net outflow by foreign portfolio investors (FPIs) follows withdrawal of Rs 12,770 crore from equities in August. Prior to that, they had pumped in over Rs 62,000 crore in the past six months (February to July). According to the latest depository data, the FPIs withdrew a net Rs 11,392 crore ($1.75 billion) in September. However, they pumped in Rs 4,430 crore in debt markets.

After taking into account the latest outflow, the total investment by the FPIs in equity markets stood at Rs 34,350 crore (about $5.2 billion) so far this year.

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