FPIs withdraw Rs 4,285 cr in 3 trading sessions amid high valuations, global headwinds
Indian equities in the first three trading days of the month driven by apprehensions ahead of the third-quarter earnings season and high valuations of domestic stocks. This came following an investment of Rs 15,446 crore in the entire December, data with the depositories showed.
The shift in sentiment comes amid global and domestic headwinds.
«FPIs are likely to continue selling as long as the dollar remains strong and US bond yields offer attractive returns. The dollar index at around 109 and the 10-year bond yield above 4.5 per cent are significant deterrents to FPI flows,» V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data, Foreign Portfolio Investors (FPIs) offloaded shares worth Rs 4,285 crore from Indian equities in the first three trading sessions of the month (January 1 to 3).
The uncertainty among foreign investors is reflected in the ongoing trend of outflows.
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