FPIs Sell Rs 23,676 Crore in Indian Stocks Amid Crude Price Worries
Foreign portfolio investors (FPIs) have sold Rs 23,676 crore worth of Indian stocks this month amid concerns over high crude prices and global liquidity issues. This marks a significant reversal from the positive FPI flows seen in July and August.
The trend of FPI investment through the primary market has continued, however, with an early indication that they have invested Rs 2,703 crore so far this month. This brings the total FPI investment through the primary market this year to Rs 48,550 crore.
The Sensex declined by 0.65% last week due to elevated crude oil prices and rising global bond yields, which weighed on investor sentiment. The US Federal Reserve's 25-bps rate hike has also heightened uncertainty around global liquidity conditions.