The latest withdrawal is much higher than outflow of Rs 412 billion, witnessed in entire 2008, during global financial crisis
This is the steepest outflow from the capital market since November 2016, when FPIs had pulled out Rs 393.96 billion
According to Prabhudas Lilladher CEO Ajay Bodke, there has been a heightened risk aversion as markets are watching with caution the outcome of key developments related to US-Iran and Karnataka polls
This is against the total inflow of Rs 137.81 billion by foreign portfolio investors (FPIs) in the Indian equity markets in January
The outflow was mainly on account of rising crude prices and the widening fiscal deficit
FPIs sold a net sum of Rs 10,525 crore in equities between August 9 and August 21
This comes following a net inflow of over Rs 62,000 cr in last six months from February-July 2017