FIIs pull nearly Rs 1,700 cr from equities so far in Jan

Overseas investors have pulled out nearly Rs 1,700 crore from the Indian stock markets in January so far following a steep fall in crude oil prices amid slowing global growth, said the media report.

The outflow comes after investments from Foreign Institutional Investors in the equities hit 10-month low of Rs 2,100 crore in December.

FIIs pull nearly Rs 1,700 cr from equities so far in Jan
These investors got re-christened as FPIs or Foreign Portfolio Investors last year under a new regulatory regime that promises to make it easier for them to invest in India.

Foreign investors were gross buyers of equities worth Rs 18,544 crore between January 1 and 9, while they sold shares amounting to Rs 20,216 crore -- a net outflow of Rs 1,673 crore (USD 264 million) for the period, latest data with Central Depository Services Ltd (CDSL) showed.

However, overseas investors took a bullish stance on the Indian debt markets and invested a net of Rs 2,620 crore in the segment during the period.

Brent crude oil price is hovering at around USD 51 per barrel. On January 7, it fell below USD 50 a barrel - first time since May 2009 - mainly due to increased supply of oil and slowing global growth. It had dropped to as low as USD 49.66 a barrel on that day.

In 2014, the net investment by overseas investors into the equities was Rs 98,150 crore, while in the debt markets it was Rs 1.6 lakh crore, aggregating Rs 2.58 lakh crore.

Read more about: fiis
Story first published: Monday, January 12, 2015, 9:20 [IST]
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