FPIs pull out ₹52,704cr from equities in March

FPIs pull out ₹52,704cr from equities in March

Foreign portfolio investors (FPIs) have withdrawn a whopping ₹52,704 crore from Indian equities in the first half of March.

The massive sell-off comes amid rising tensions in West Asia, rupee depreciation, and fears over high crude oil prices affecting India's growth and corporate earnings.

The latest exodus follows a record inflow of ₹22,615 crore into Indian equities in February, the highest monthly inflow in 17 months.

FPIs were net sellers for 3 consecutive months

Before the recent sell-off, FPIs were net sellers for three consecutive months, withdrawing ₹35,962 crore in January, ₹22,611 crore in December, and ₹3,765 crore in November.

In March alone (until March 13), FPIs sold equities worth some ₹52,704 crore in the cash market and remained net sellers on all trading days of the month.

The pullout has been mostly attributed to rising geopolitical tensions in West Asia.