Foreign Portfolio Investment in Indian equities drop 11% to $542 bn in January-March quarter
The Hindu
Foreign Portfolio Investment in Indian equities was at $542 billion in the March quarter of 2023, a decline of 11% from the preceding year due to the exodus of foreign money from the domestic market
The value of Foreign Portfolio Investment (FPI) in Indian equities was at $542 billion in the March quarter of 2023, a decline of 11% from the preceding year, largely due to the exodus of foreign money from the domestic market, according to a Morningstar report. In comparison, the value of FPI in Indian equities was $612 billion in the January-March quarter of 2022.
On a quarter-on-quarter basis, the value of FPI in Indian equities fell by 7% from $584 billion recorded in the three months ending in December 2022.
This came following a surge in their investment value for three quarters in a row. The decline led to FPIs’ contribution to Indian equity market capitalisation falling to 17.3% during the year under review from 17.8% for March 2022.
After withdrawing record funds in 2021–22, foreign portfolio investors continued their sell-off in the last fiscal too and pulled out ₹37,631 crore from Indian equities amid aggressive rate hikes by central banks globally.
Also Read: FPIs register steepest outflow in 7 months at ₹28,852 crore in January
Since the start of foreign investment in 1993, this is for the first time foreign portfolio investors (FPIs) sold consecutively for two financial years.
They sold equity worth ₹1.4 lakh crore in FY22 and the pace of selling slowed down to ₹37,632 crore in FY23, data with the depositories showed.
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