FPIS' exodus continues, take out *9,600cr from equities in Feb
- New Delhi: Foreign investors continue to desert Indi- on stock markets as they pulled out over Rs 9,600 crore this month so far on costlier valuation of domestic equities compared.
- The outflow comes following a net withdrawal of Rs 28,852 crore by Foreign Portfolio Investors (FPIs) in January. This was also the worst outflow in the last seven months, data with the depositories showed.
- Going ahead, FPIs flow are expected to remain vola- tile in Indian equities given the increase in rate by central banks, Shrikant Chouhan, head of equity research (retail), Kotak Securities, said.
- "I expect this flow (out- flow) trend to continue until there is more clarity on the Adani issue, markets stabilize further and FPIs see more concrete signs of recovery in the Indian economy." Himanshu Srivastava, associate director manager re- search, Morningstar India, said.
- According to the data, Tava said. FPIs withdrew a net sum of Rs 9,672 crore from equities in February 1-10.
- In It, selling in early January has changed to buying in late last month and early February: It appears that the sustained FPI selling is slowly coming to an end, he added. On the other hand, FPIs have invested Rs 2,154 crore in the debt markets during the period under review.
- So far this month, FPI flows were mixed for emerging markets. India, Thailand and the Philippines witnessed outflows, while South Korea, Taiwan, and Indonesia attracted foreign investment.