FPIs turn net sellers; pull out Rs 21,201 crore from equities in Aug so far

NEW DELHI: Foreign investors continued their relentless selling in the Indian equity markets in August, offloading shares worth Rs 21,201 crore due to the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts.

This came after an inflow of Rs 32,365 crore in July and Rs 26,565 crore in June, data with the depositories showed.

Foreign portfolio investors (FPIs) infused funds in these two months on the expectation of sustained economic growth, continued reform measures, better-than-expected earnings season and political stability.