FPIs pull out Rs 2,249 cr from Indian equities so far in July

Mumbai, July 11 Foreign Portfolio Investors (FPI) have been net sellers in the Indian equity segment so far in July.

They have withdrawn net investments worth Rs 2,249 crore from the equities in July, showed data on the NSDL site.

The concerns over the 'Delta' variant of Covid-19 and rising oil prices have weighed on the investor sentiments, analyst said.

Kotak Securities' Executive Vice President, Equity Technical Research, Shrikant Chouhan, said: "FPIs have been net seller in Indian equities in July 2021 till date. All key emerging markets and Asian markets have seen FPI outflows this month to date."

"We expect FPI flows to India to remain vulnerable to US Fed monetary policy and rising crude oil prices. Markets going ahead will keep a watch on inflation, oil prices, bond yields and spread of Covid Delta variant," he said.

With net outflow so far in this month, the net FPIs investments in 2021 stands at Rs 58,095 crore. In June, net investment into the equities segment stood at Rs 17,215 crore.