FIIs pull out ?1,700 cr from Indian equities

09/02/2014 14:01 AST

Overseas investors pulled out nearly ?1,700 crore from Indian equities in the first week of this month following a further reduction in the bond-buying programme by the US Federal Reserve and rising concerns over growth in China.

Foreign institutional investors also turned net sellers of equities this year. After buying $20 billion worth of stocks in 2013, they have sold equities totalling ?953 crore since January.

FIIs were gross buyers of equities worth ?13,253 crore and sellers of stocks to the tune of ?14,921 crore till February 7, resulting in a net outflow of ?1,668 crore ($266 million), according to SEBI data.

Market experts attributed the sell-off by FIIs to global events like fears of slowdown in China and further scaling down of the economic stimulus programme for the American economy by the US Federal Reserve.

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The Hindu Business Line

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