FPIs turn net sellers, withdraw Rs 13,400 crore
Sunday, 11 August 2024 ()
Foreign Portfolio Investors (FPIs) withdrew over Rs 13,400 crore from Indian equities in August, reversing prior investments. The outflow was driven by the unwinding of the yen carry trade and recession fears in the US. Elevated Indian stock valuations, geopolitical tensions, and weak US job data also contributed to this trend, according to analysts.
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