However, FPIs are bullish on stock market as they put in Rs 1,495 cr during same period
FPIs hiked their stake most in Max Financial Services by 8.4% to 33.5%, followed by SKS Microfinance, The Ramco Cement, Apollo Tyres and PVR, the report says
In the previous month, FPIs had invested a staggering Rs 19,967 crore in capital markets
FPIs turned net buyers of equities in March after pulling out a massive Rs 41,661 cr from the market in the previous four months
Overseas investors buoyed by recent rate cut by RBI and hopes of a good monsoon
Market experts attributed the huge inflows to continued hopes that RBI would bring down the monetary policy rate at its first policy meet of 2016-17 on April 5
The regulator also allowed FPI to acquire bonds under default