Markets last week suffered the worst FPI selling bout of 2024 calendar year

Foreign investors pulled Rs 18,600 crore out of Indian markets last week, the most in 2024, influenced by US economic factors and geopolitical tensions

The domestic markets last week witnessed the worst bout of selling by foreign portfolio investors (FPIs) this calendar year. During the four trading sessions ended April 18, FPIs pulled out Rs 18,600 crore, dragging the benchmark Nifty 50 down by 3.3 per cent. For context, monthly FPI-selling tally has been greater than this figure in only four calendar months since the start of 2023.

Last week’s high FPI selling figure was in the absence of any large block deals. It came amid global headwinds like strengthening of the US dollar and rising bond yields amid expectations of a rate cut