FPIs pull out Rs 5,936 cr from Indian equities in 1st week of May

TOKYO, Jan. 4, 2019 (Xinhua) — People look at an electronic board displaying stock prices at the Tokyo Stock Exchange in Tokyo, Japan, Jan. 4, 2019. Tokyo stocks opened sharply lower on Friday, with the benchmark Nikkei stock index tracking an equities rout on Wall Street overnight sparked by Apple Inc. lowering its sales outlook and concerns about a global economic slowdown. (Xinhua/Du Xiaoyi/IANS)

Mumbai, May 9 (IANS) Foreign portfolio investors (FPI) continued to pull out investments from the Indian equities during the first week of May.

During the trading sessions of May 3-7, FPIs pulled out net investments worth Rs 5,936 crore from equities.

The subdued investor sentiments come on the back of the deepened Covid crisis in the country.

The lockdowns and restrictions across states also have weakened the prospects of economic recovery, analysts said.

The selling in May continues after FPIs withdrew net investments of Rs 9,659 crore in April. The bearish trend last month came after incessant buying in the preceding six months.

The overall net investments by FPIs so far in 2021 stands at Rs 40,147 crore.

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