$1-bn outflows: FPIs turn wary of India on worsening coronavirus crisis

After the record-breaking equity inflows in the last financial year (FY21), foreign portfolio investors (FPI) are scaling back their exposure to India amid the rising US bond yields and worsening coronavirus crisis. So far this month, FPIs have sold shares worth $1.09 billion. If the pace of outflows continues, April could record the highest monthly outflows since March 2020. In the interim 12 months, the domestic equity markets have seen monthly outflows only on two occasions – April 2020 ($535 million) and September 2020 ($767 million). Since mid-February, most emergi.....

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