The value of foreign portfolio investment (FPI) in Indian equities was at USD 542 billion in the March quarter of 2023, a decline of 11 per cent from the preceding year, largely due to the exodus of foreign money from the domestic market, according to a Morningstar report.
In comparison, the value of FPI in Indian equities was USD 612 billion in the January-March quarter of 2022.
On a quarter-on-quarter basis, the value of FPI in Indian equities fell by 7 per cent from USD 584 billion recorded in the three months ended December 2022.
This came following a surge in their investment value for three quarters in a row. The decline led to FPIs’ contribution to Indian equity market capitalization falling to 17.3 per cent during the year under review from 17.8 per cent for March 2022.
After withdrawing record funds in 202122, foreign portfolio investors continued their sell-off in the last fiscal too and pulled out Rs 37,631 crore from Indian equities amid aggressive rate hikes by central
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