FPIs turn net sellers in April, pull out Rs 9,659 cr from Indian equities

Mumbai (IANS) Foreign Portfolio Investors (FPI) ended their buying spree in April as they pulled out net investments worth Rs 9,659 crore from Indian equities during the month.

The reversal in trend came at a time when the surging Covid cases and the resultant lockdowns spooked investor sentiments.

The FPIs turned net sellers after a gap of five months. In September, FPIs pulled out net investments worth Rs 7,783 crore.

Along with the second wave of Covid-19, weakness in the Indian rupee also led to the outflow of foreign funds last month, analysts said.

The net FPI investment in 2020 now stands at Rs 46,083 crore, including the net investments of Rs 19,473 crore, Rs 25,787 crore and Rs 10,482 crore in January, February and March, respectively.

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