Home / Business / Business News / Article / FPIs withdraw Rs 35,860 crore from Indian equities in September amid elevated crude oil prices

FPIs withdraw Rs 35,860 crore from Indian equities in September amid elevated crude oil prices

FPIs were net buyers in the market in July and August, and had invested Rs 20,200 crore in Indian equities in July and Rs 29,630 crore in August, respectively

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FPIs offload equities worth Rs 35,860 crore in September. Representational image. File pic

FPIs offload equities worth Rs 35,860 crore in September. Representational image. File pic

Foreign portfolio investors (FPIs) turned net sellers in September, withdrawing Rs 35,860 crore from Indian equities amid global uncertainties, higher US bond yields and elevated crude oil prices.

"The surge in the US 10-year bond yield to above 5.2 per cent and concern that crude might remain elevated for longer also influenced the renewed FPI selling. Sustained FPI selling has significantly weakened the Indian market which witnessed eight consecutive weeks of losses," V K Vijayakumar, Chief Investment Strategist, Geojit Investments said.

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