Covid-19: FPIs pull out record Rs 1.1 trn in March, highest withdrawal ever

Foreign portfolio investors (FPIs) have net withdrawn a record Rs 1.1 trillion from the Indian markets in March as the coronavirus pandemic dented investor sentiment worldwide.

According to latest depositories data, FPIs pulled out a net Rs 61,973 crore from equities and Rs 56,211 crore from the bond market in March, taking the cumulative net outflow to Rs 1,18,184 crore.

The outflow of funds in March comes after six consecutive months of investment by FPIs since September 2019.

This is also the highest withdrawal ever since the FPI data has been made available by the National Securities Depository Ltd.