FPIs' outflow from equities at `7,300 crore in Dec so far
25 Dec 2017 10:07 PM IST
New Delhi: Overseas investors have pulled out a massive Rs 7,300 crore from the country's stock markets this month so far, primarily due to rising crude prices and widening fiscal deficit.
This comes following an eight-month high inflow of Rs 19,728 crore in November, mainly on account of the government's plan to recapitalise PSU banks and surge in India's ranking on the World Bank's ease of doing business list.
This also marked the highest net investment by FPIs since March, when they had poured in Rs 30,906 crore in the equity markets. According to the depositories data, Foreign Portfolio Investors (FPIs) withdrew a net amount of Rs 7,300 crore ($1.14 billion) from equities during December 1-22.
However, such investors put in Rs 1,356 crore in the debt markets during the period under review.
As per recently released data, India's fiscal deficit rose to 96.1 per cent of the full-year target by the end of October.
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