New Delhi: Continuing the aggressive selling spree for the sixth straight month, foreign portfolio investors (FPIs) pulled out Rs 41,123 crore from the Indian equity segment in March, National Securities Depository data revealed.
The sell-off by the FPIs in March is way more than they pulled out in January and February of Rs 33,303 crore and Rs 35,592 crore, respectively.
The recent sell-off was triggered by policy rate hike by the US Federal Reserve which made the country more attractive for investments.
Inflationary pressure led by rising commodity prices, including crude oil, was also a hurdle for the investors. Reportedly, FPIs pulled out a net Rs 1.48 lakh crore between October 2021 and March 2022.
During January-March 2022, FPIs withdrew around Rs 1.1 lakh crore from the equity segment, data showed.