FPIs sell Indian equities worth Rs 14,794 crore in June due to high valuations

From Economic Times: 2024-06-08 07:12:44

Foreign Portfolio Investors (FPIs) have off-loaded Indian equities worth Rs 14,794 crore since the start of June, totaling Rs 38,158 crore for the year. Despite the market ending with weekly gains, FPIs have shown reluctance due to high valuations, shifting capital to cheaper markets like Chinese stocks on Hong Kong Exchange.

Following unexpected election results on June 4, Nifty rebounded with weekly gains of 3.6%, led by IT and financial stocks. The market stabilized after high volatility, attributed to high valuations in Indian stocks. FPIs, who were buyers in March and February, have turned net sellers with a total of Rs 19,824 crore sold this year.



Read more at Economic Times: FPIs net sellers of Indian equities at Rs 14,794 crore in June so far