 "Over Rs 1.6 trillion debt downgraded by credit rating agencies in August")
The record selling by foreign institutional investors (FIIs) in domestic debt markets is unlikely to reverse in the near term, with experts attributing the net sell-off worth Rs 48,710 crore in 2019-20 to the coronavirus outbreak and global recessionary pressures, which are showing no signs of abating.
“FIIs have been heavily selling in debt markets because they are seeing investor redemption in offshore funds. Amid the spread of coronavirus, leveraged positions have come under pressure,” said Ajay Manglunia, managing director and head of fixed income, JM Financial.
According to the National Securities Depository data, available since 1992-93, FII selling never crossed the
