Mumbai, June 17: Foreign investors were selling equity in Indian markets for the last few months. The trend changed from the previous week when Foreign Institutional Investors (FIIs) invested Rs 11,730 crore in the Indian equity market.
FIIs sold more than Rs 40,000 crore of equity in May which is the biggest figure in any month of 2024 so far. According to data from depositories, Net FIIs’ outflow for the month stood at Rs 3,064 crore as of June 14. Foreign investors had sold Rs 14,794 crore equity between June 3 and June 7.
Foreign investors are preferring the debt market instead of equity. So far this month till June 14, FIIs have invested Rs 5,700 crore in the debt market.Also Read: Indian banks have bounced back in 10 years with 4-fold jump in profits: Report.
According to experts, "The reason for FIIs investing more in the debt market is the inclusion of India in the global bond index." FIIs have withdrawn Rs 26,428 crore from the Indian equity market. However, they invested Rs 59,373 crore in the debt market so far in 2024.
The Indian stock market continues to rise. Last week, both Sensex and Nifty made new all-time highs of 77,145 and 23,490 respectively. During this period, Nifty Midcap and Smallcap indices posted gains of around 4 per cent and 5 per cent, respectively.
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