FPIs' net outflow from equities hits $1 bn so far in Feb
18 Feb 2018 11:02 PM IST
NEW DELHI: Foreign investors have pulled out so far this month a staggering $1 billion or Rs 6,850 crore from the Indian stock market in the wake of sell-offs globally.
This is against the total inflow of over Rs 13,780 crore by foreign portfolio investors (FPIs) in January, latest data with depositories showed.
"In January, the US unemployment rate stood at a 17-year low of 4.1 per cent. In addition to this, there is a good possibility of an increase in the US Federal Reserve rate to counter the rise in inflation. Overall we witnessed a sell-off globally. The FPI pull out from Indian markets is most likely a result of this," Harsh Jain, co-founder and COO, online investment platform Groww, said.
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