February 10, 2016

FIIs pull out $2 bn this year

According to data provided by the Securities and Exchange Board of India, foreign institutional investors (FIIs) pulled out $1.8 billion (or Rs 12,775 crore) from the Indian market between January 1 and February 5. They had taken out another $100 million (Rs 680 crore) from the markets this week, taking the selling tally to $1.9 billion.

FIIs had pulled out nearly $3 billion (Rs 11,805 crore) in the same period of 2008. In rupee terms, this is the worst-ever FII selling for the Indian markets during the start of a new year.

Risk aversion has seen global investors pull out money from across emerging markets, but the intensity of selling has been one of the highest in India. According to Bloomberg data, FII selling in other regional markets such as Indonesia, the Philippines and Taiwan has been relatively subdued at less than $500 million

Source: http://www.business-standard.com/article/markets/fiis-pull-out-2-bn-this-year-highest-since-2008-116020901307_1.html

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