FPIs pull out Rs 12,650 cr in April amid COVID-19 turbulence

Foreign portfolio investors (FPIs) have withdrawn a net Rs 12,650 crore from the Indian capital markets in April so far amid the coronavirus crisis.

Between April 1 to 17, FPIs pulled out a net sum of Rs 3,808 crore from equities and Rs 8,842 crore from the debt segment, the depositories data showed.

The total net outflow stood at Rs 12,650 crore.

However, April has been a tad better compared to March, when overseas investors had withdrawn a record Rs 1.1 lakh crore on a net basis from the Indian markets (both equity and debt).

The quantum of net outflows has significantly slowed down, at least from equities, said Himanshu Srivastava, senior analyst manager research, Morningstar India.

"Out of eight trading days so far in the holiday truncated month, FPIs were net buyers in the Indian equity markets in four," he said.

Citing the reason for net inflows on some days in April, Harsh Jain, co-founder and COO at Groww, said "global markets are becoming more stable. The general belief is ...