The benchmark Nifty soared 14.7 per cent during the month; this was its best monthly performance since May 2009
Overseas investors remained net-sellers in April despite a sharp rebound in stock prices. The emerging market (EM) pack saw sell-off to the tune of $37 billion in April, even as the MSCI EM index gained 9 per cent, the data provided by Bloomberg shows.
The selling was far less intense in India with foreign portfolio investors (FPIs) offloading shares worth only $400 million. This helped Indian equities outperform most global peers in April.
The benchmark Nifty soared 14.7 per cent during the month; this was its best monthly performance since May 2009. In March, FPIs
had pulled out a record $8.4 billion from domestic stocks, triggering a 23 per cent drop in the benchmark indices.
The entire EM pack had seen a pullout of $71.6 billion in March, when the MSCI EM index had dropped 15.6 per cent. So far in 2020, the FPI pullout from EM has totalled $124 billion. Market experts said the aggressive stimulus measures announced by central banks have helped reduce the selling, but FPIs
are not yet fully back and buying stocks.
They remain concerned about the impact of the Covid-19 pandemic on economic and corporate earnings.