After withdrawing over `7,600 crore last month, foreign investors have slowed down the pace of equity selling in India in October so far, as they pulled out `1,586 crore from capital markets. Foreign portfolio investors (FPIs) were net buyers of `51,200 crore in August. The month of November is expected to have net inflow of more or less similar to this, K Dileep, Head of PMS at Geojit Financial Services, said.
According to the data from the depositories, FPIs withdrew Rs 1,586 crore from equities in October (till 28). The one trading session is left for the month. However, in the last few days, FPIs slowed down on selling substantially. In fact, they invested more than `6,000 crore in the last four trading sessions. Shrikant Chouhan, Head-Equity Research (Retail) at Kotak Securities, attributed October’s outflow to higher cost of capital, ongoing geo-political risk among others.
