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Foreign investors have pulled out nearly Rs 100 billion ($1.5 billion) from the Indian stock market so far this month, primarily due to Punjab National Bank (PNB) fraud jitters, coupled with global cues.
This is against the total inflow of over Rs 137.8 billion by foreign portfolio investors (FPIs) in January, latest data with the depositories show.
Geojit Financial Services Research head Vinod Nair said weak domestic cues impacted investor sentiment.
Beside, renewed concern that a rebound in global crude oil prices will have an adverse impact on the fiscal deficit also kept market participants cautious, he added. The state-run PNB on
