New Delhi: With the corona virus epidemic taking its form, fears of global recession have increased. Fearful of this, foreign portfolio investors (FPIs) have withdrawn net Rs 37,976 crore from the Indian capital market so far in March.
According to the depository data, foreign investors pulled out Rs 24,776.36 crore net from shares and Rs 13,199.54 crore from the debt or bond market during March 2-13. Thus FPIs have withdrawn a total of Rs 37,975.90 crore during the period under review. Prior to this, foreign investors were net buyers for six consecutive months from September 2019.
Research analyst Himanshu Srivastava, senior analyst manager at Morningstar Investment Advisor, said, “The corona virus is spreading rapidly due to which it has been declared an epidemic.” In addition, investors around the world have been affected by the continued slowdown in the global economy. “
