FPIs withdraw ₹85,790 cr from Indian equities in Oct on attractive Chinese market valuations
The Hindu
October sees record foreign fund outflows from Indian equities, driven by global events and domestic indicators.
Foreign investors have continued selling in the Indian market, pulling out a massive ₹85,790 crore (around $10.2 billion) from equities this month due to Chinese stimulus measures, attractive stock valuations, and the elevated pricing of domestic equities.
October is turning into the worst-ever month in terms of foreign fund outflows. In March 2020, FPIs withdrew ₹61,973 crore from equities.
The latest outflow came after a nine-month high investment of ₹57,724 crore in September 2024.
Since June, foreign portfolio investors (FPIs) have consistently bought equities after withdrawing ₹34,252 crore in April-May. Overall, FPIs have been net buyers in 2024, except for January, April, and May, data with the depositories showed.
Looking ahead, the trajectory of global events like geopolitical developments and interest rate movements will play a crucial role in shaping future foreign investment in Indian equities, Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India, said.
On the domestic front, key indicators like inflation trends, corporate earnings, and the impact of festive season demand will also be closely watched by FPIs as they assess opportunities in the Indian market, he added.
According to the data, FPIs made a net withdrawal of ₹85,790 crore from equities between October 1 and 25.
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