Mumbai, May 2 (SocialNews.XYZ) 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.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
