Foreign portfolio investors withdraws rs 5689 crore from indian markets
With the rise in crude oil prices and the strengthening of the US dollar, foreign investors do not want to take risks in the near future.
New Delhi. In view of domestic and external volatility, foreign portfolio investors have pulled out Rs 5,689 crore from the Indian stock markets so far in July. Foreign investors are believed to have taken this step keeping in mind various domestic and global factors. At present, this is being considered a cautious move by foreign investors.
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FPIs do not want to take risks
According to the latest depository data, foreign portfolio investors have withdrawn Rs 5,689.23 crore from equities between July 1 and 23. During this, he poured Rs 3,190.76 crore into the debt or bond market. In this way his net withdrawal stood at Rs 2,498.47 crore. On this trend of FPIs, Himanshu Srivastava, Associate Director and Manager Research, Morningstar India, says that due to rise in valuations, buoyant crude oil prices and the strengthening of the US dollar, foreign investors are avoiding taking risks in the near future.
focus on selling
On the other hand, according to Harsh Jain, Co-founder and Chief Operating Officer (COO) of Grow, the Sensex and Nifty are at an all-time high at the moment. Because of this, foreign investors are being cautious in investing. While VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, says about this, FPIs have consistently sold in the cash market in the last six trading sessions.
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