FPIs pull out so far Rs 5,689 cr from Indian equities in July

Foreign portfolio investors (FPIs) offloaded Indian equities to the tune of over Rs 5,689 crore in July so far as they continued to adopt a cautious stance in view of various domestic and global factors.

During July 1-23, FPIs took out Rs 5,689.23 crore from equities, as per depositories data.

During this period, they invested Rs 3,190.76 crore in the debt segment.

So, net withdrawal during the period under review stood at Rs 2,498.47 crore.

Rising valuations, surge in oil prices and firmness in US dollar would have made foreign investors wary of the near-term risks, which would have prompted them to stay on