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FPIs pull out over Rs 11,000 crore in July, highest in nine months

This was their highest outflow since October 2018, when they had pulled out Rs 28,921 crore ($3.93 billion) from the equity market

FPI
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Illustration by Binay Sinha

Puneet WadhwaDeepak Korgaonkar
Overseas investors have pulled out over Rs 11,000 crore (nearly $2 billion) from Indian equities in July, the steepest outflow in nine months, on account of multiple headwinds, including the tax on ‘super-rich’ announced in Budget 2019-20.

After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018, when they had pulled out Rs 28,921 crore ($3.93 billion) from the equity market. Between February and June, 2019, they pumped net amount of Rs 82,910 crore ($12.7
Topics : FPIs

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First Published: Jul 31 2019 | 3:14 PM IST

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