With record-high US bond rates, FPIs continue to be net sellers of Indian shares. What lies ahead?
Due to a strong increase in US bond rates and continuous geopolitical unrest in the Middle East, foreign portfolio investors (FPIs) continued to be net sellers in the third week of October. As of October 20, FPIs sold Indian shares worth 12,146 crore and offloaded a total of 6,55 crore, accounting for debt, hybrid, debt-VRR, and equities, according to data from the National Securities Depository Ltd (NSDL).
The $12,146 billion sum also covers bulk transactions and main market investment. In the cash market, there was more selling ($16,176 crore). FPIs emerged as net sellers in September, reversing the earlier three-month pattern of persistent purchasing. According to economists, the main cause of FPI outflows since last month has been rising US bond rates.
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