Millennium Post

FIIs pull out Rs 186 cr this month

Foreign institutional investors (FIIs) have pulled out Rs 186 crore from the equity market in the first fortnight this month amid concerns over domestic economic growth and depreciating rupee.

During 1-15 June, FIIs made gross purchase of equities worth Rs 24,957.40 crore and sold shares valued at Rs 25,143.50 crore – a net outflow of Rs 186.30 crore, according to the data available with the market regulator SEBI. FIIs had pulled out Rs 347 crore from the equity market in May, and Rs 1,109 crore in April.

‘Foreign investors are staying away from the Indian equity market, despite having an attractive valuation, mainly on account of volatility in rupee, which is hovering around the 56-level against US dollar,’ a stock broker said.

He pointed out that investors in India are in need of more policy action.
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