Mumbai, April 18 (IANS) Amid resurgent Covid cases, foreign portfolio investors (FPI) have pulled out net investments of Rs 4,643 crore from the Indian equities.
This is a reversal from the bullish sentiments among the foreign investors over the past one year.
So far in 2021, net FPI investments into the equity market have stood at Rs 51,099 crore, with net investments in January, February and March at Rs 19,473 crore, Rs 25,787 crore and Rs 10,482 crore, respectively.
The sell-off in April comes amid the rising cases of Covid-19 and the possibilities of partial localised lockdowns, which may bring a halt to the reviving economic and business activities, market experts said.
Weakness in the Indian rupee also has led to the outflow of foreign funds, analysts said.