New Delhi: Foreign Portfolio Investors (FPIs) have withdrawn Rs 3,741 crore from the Indian market in just three trading sessions in July. Analysts believe this is due to profit recovery and rupee appreciation in the last few days.
According to depository data, FPIs made a net withdrawal of Rs 3,959 crore from the shares during July 1 to 3, while they made a net investment of Rs 218 crore in bonds during this period. Thus a total net withdrawal of Rs 3,741 crore was made during the period under review.
Earlier, FPI had invested Rs 24,053 crore in the domestic market in June. FPI made net investment in June after selling for three consecutive months. Himanshu Srivastava, Associate Director-Manager (Research), Morningstar India, said, “The market has performed well in recent times and the rupee has rallied during the past few weeks. It provided a good opportunity for foreign investors to book profits.” And they decided to capitalize on the opportunity. ”
