Snapping their three-month buying spree, overseas investors turned net sellers in Indian markets in September due to uncertainty ahead of the U.S. presidential polls and surging coronavirus cases.
Foreign investors withdrew Rs 3,419 crore on net basis from Indian markets in September, according to depositories data. A net of Rs 7,783 crore was withdrawn from equities, while the debt segment saw inflows of Rs 4,364 crore.
FPIs had been net buyers in Indian markets in the three straight months to August. They had invested Rs 46,532 crore in August, Rs 3,301 crore in July and Rs 24,053 crore in June on net basis.
“FPIs have turned cautious ahead of the U.S. presidential election. Also, renewed fears of re-emergence and surge in coronavirus cases across countries have raised concerns about the possibility of fresh lockdowns being imposed in infected regions,” said Himanshu Srivastava,…