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Foreign Portfolio Investors Pulled Out Rs 1.2 Lakh Crore From Indian Markets In March

By Staff
|

As the COVID-19 pandemic sparked fears of economic uncertainty, foreign portfolio investors (FPIs) pulled significant cash out of Indian markets amid sell-off in global markets. According to NSDL data compiled by the ET Intelligence Group FPIs have withdrawn $15.9 billion (Rs 1.2 lakh crore) out of the Indian debt and equity markets in March, the highest ever monthly outflow.

March Sees Highest Ever Monthly Withdrawals By Foreign Portfolio Investors
 

Data verified by ET further said that FPIs have pulled out a record $15.11 billion (Rs 1.12 lakh crore) from India for the year, the most in Asia, barring South Korea.

The total impact of market value erosion and redemption pressure on fund houses brought down total Indian equity assets under management by FPIs to $341 billion (Rs 25.52 lakh crore) as on 15 March as against $431 billion (Rs 33 lakh crore) at the beginning of 2020, a 20 percent decline.

FPIs accounts for a fifth of the total market capitalisation of Indian equities and for the first 15 days of March, sell-off in financial services, banks and oil & gas sectors accounted for nearly 90 percent of the total outflow.

Read more about: fpi stock market sensex
Story first published: Wednesday, April 1, 2020, 9:51 [IST]
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