New Delhi: Foreign portfolio investors have withdrawn Rs 6,452 crore from the Indian market so far in May, as the second wave of the Covid-19 pandemic affected investor sentiment. According to depository data, foreign investors pulled out Rs 6,427 crore from the stock markets and Rs 25 crore from the bond market between May 1 and 14. During this period, Rs 6,452 crore was netted from the market.
VK Vijayakumar, chief investment officer of Geojit Financial Services, said the second wave of the Covid-epidemic was the reason for the FPI withdrawal, the lockdown imposed in various states for its containment and the result of GDP (GDP) growth and corporate earnings and profits. But there is a concern about the effect.
This led to a net withdrawal of a total of Rs 9,435 crore from the stock market and bond market in the previous month.
Grey’s co-founder and chief operating officer Harsh Jain said that the actual impact on the economy from the epidemic and the lockdown imposed for its prevention is not yet clear, but investors are worried and cautious.
