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After strong inflows in 2023, foreign portfolio investors (FPIs) turned net sellers in the first month of 2024, January. FPIs sold Indian equities worth ₹25,744 crore during the month on the back of a rise in US bond yields. Will the selling continue?
The Nifty 50 index, representing the top 50 blue-chip companies, has seen a significant downturn primarily driven by selling in banking stocks. Foreign portfolio investors have been actively selling, withdrawing over ₹28,000 crore from Indian markets.
Pushed by Swiss regulators UBS and Credit Suisse agreed on a merger deal. UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit Suisse for CHF 3 billion (approximately $3.25 billion).Also, markets focused on the upcoming Fed policy.
So far in January, FPIs have pulled out ₹ ₹15,236 crore from Indian equities. However, overall in 2022, FPIs sold ₹1,21,439 crore which can be attributed due to macroeconomic uncertainties, rising interest rates trend, and geopolitical tension.