FPIs pull out $1 bn from Indian markets in Feb in wake of global sell-off


  • Foreign investors have pulled out so far this month a staggering $1 billion, or Rs 68.5 billion (Rs 6,850 crore), from the Indian stock market in the wake of sell-offs globally.This is against the total inflow of over Rs 137.8 billion (Rs 13,780 crore) by foreign portfolio investors (FPIs) in January, the latest data with depositories showed. "In January, the US unemployment rate stood at a 17-year low of 4.1 per cent. In addition to this, there is a good possibility of an increase in the US Federal Reserve rate to counter the rise in inflation. Overall we witnessed a sell-off globally.The FPI pull out from Indian markets is most likely a result of this," Harsh Jain, co-founder and COO, online investment platform Groww, said.