New Delhi: Overseas investors pulled out more than Rs 2,000 crore from Indian equities in a fortnight following a further reduction in the bond buying programme by the US Federal Reserve.
Thus, Foreign Institutional Investors (FIIs) also turned net sellers of equities this year. After buying USD 20 billion (over Rs 1.23 lakh crore) worth of stocks in 2013, they have sold equities totalling Rs 1,298 crore since January.
FIIs were gross buyers of equities worth Rs 25,573 crore and sellers of stocks to the tune of Rs 27,586 crore till February 14, resulting in net outflow of Rs 2,012 crore (USD 322 million), according to the data of market regulator Sebi.
Market experts attributed the sell-off by FIIs to global events like further scaling down of the economic stimulus programme for the American economy by the US Federal Reserve.
