Team Blitz India
NEW DELHI: Foreign Portfolio Investors (FPIs) have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections.
This came following a net outflow of over Rs 8,700 crore in the entire April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields. Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February.
Going forward, as clarity emerges on the election front, FPIs are likely to buy in India, since they cannot afford to miss the post-election results rally.
Actually, the rally may begin even before the election results, VK Vijaya Kumar, Chief Investment Strategist, Geojit Financial Services, said.
According to data with depositories, Foreign Portfolio Investors (FPIs) witnessed a net outflow of Rs 22,047 crore from equities this month (till May 24).
