ANI
22 Jan 2023, 18:03 GMT+10
New Delhi [India], January 22 (ANI): Foreign portfolio investors (FPIs) have sold assets worth about Rs 15,236 crore in Indian stock markets so far in 2023 (till January 20), the latest data from National Securities Depository showed.
Foreign investors are apparently cautious amid risks of the potential return of Covid, besides looming global recession worries as flagged by various agencies.
In November and December 2022, foreign portfolio investors (FPIs) were net buyers. They had bought assets worth Rs 36,239 crore and Rs 11,119 crore, respectively.
Prior to November, they were net sellers in September and October amid the then-strong US dollar index, weak rupee, and tightening of monetary policy.
Notably, barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.
In 2022, foreign portfolio investors overall sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the data available on the NSDL website showed.
Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.
Meanwhile, a World Bank report has projected that the global economy will grow by a mere 1.7 per cent in 2023, down from the 3 per cent it estimated in its earlier forecast. In 2024, the global economy is projected to grow by 2.7 per cent, against the previous estimate of 3 per cent.
Given fragile economic conditions, any new adverse development such as higher-than-expected inflation, an abrupt rise in key interest rates to contain it, a resurgence of the Covid-19 cases, or escalating geopolitical tensions could push the global economy into recession, the World Bank report said. (ANI)
Get a daily dose of Japan Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Japan Herald.
More InformationMACAU CITY, Macau: Over the Lunar New Year holiday, Macau, the world's largest gambling hub, witnessed a resurgence of tourists ...
SINGAPORE: In December, Singapore saw its key consumer price gauge rise 5.1 percent, higher than predicted, official data said. However, ...
TOKYO, Japan: Japanese Prime minister Fumio Kishida said this week that it was "now or never" for Japan, one of ...
BANGKOK, Thailand: Following China's reopening and the end of its strict COVID-19 restrictions, businesses on Thailand's holiday island of Phuket ...
SEOUL, South Korea: Korea Customs Service data released this week showed that South Korean exports for the first 20 days ...
TOKYO, Japan: The Yomiuri newspaper has reported that Japanese Prime Minister Fumio Kishida is planning to visit Kyiv in February ...
SINGAPORE: In December, Singapore saw its key consumer price gauge rise 5.1 percent, higher than predicted, official data said. However, ...
RESTON, Virginia: Amidst labor and supply shortages, US defense contractor General Dynamics forecasted weak 2023 results, though strong demand for ...
ATLANTA, Georgia: In light of its significant debt, the slowing economy and rising interest rates stifling consumer demand, US mattress-maker ...
BENTONVILLE, Arkansas: To attract and retain employees in a tight domestic labor market, Walmart has announced that it it will ...
NEW YORK, New York - U.S. stocks hesitatingly continued higher Friday, reflecting widespread gains, albeit modest ones, across the globe."We're ...
NEW YORK CITY, New York: As early as this year, lab-grown meat could be served in some restaurants in the ...