New Delhi: Foreign portfolio investors (FPIs) have net sales in the first five trading days of March, aside from the six-month buying trend. FPI has withdrawn a total of Rs 13,157.12 crore from Indian capital markets during this period.
Investors’ perception has been affected amid growing concerns over the Corona virus. According to the depotory data, between March 2 and 6, FPIs have withdrawn Rs 8,997.46 crore from the stock markets and Rs 4,159.66 crore from the bond market.
In this way they have withdrawn Rs 13,157.12 crore from the capital market. Earlier, from September 2019, FPIs remained in the domestic market for six consecutive months. GRO co-founder and chief operating officer Harsh Jain said that the growing concern about the spread of corona virus in the US and the consequent upsurge in global markets is a major factor affecting Indian markets.
FPIs have continued to withdraw from both the domestic stock and bond markets due to fear of softening in the market. He said that the US Federal Reserve has made a sudden cut in policy rates by 0.5 percent. This shows the fear of softening of the US government. At present, this situation within the country should also be linked to the Yes Bank crisis. This is not a market encouraging position.
