This has taken the total outflow to Rs 13,414 crore (USD 1.97 billion) since the beginning of the year. According to the data available with depositories, foreign portfolio investors (FPIs) took out Rs 4,503 crore from equities during February 1-18 while they withdrew Rs 96 crore from debt market during the same period, leading to a net outflow of Rs 4,599 crore (USD 673 million).
Prior to that, FPIs pulled out a net Rs 13,381 crore from equities while they infused Rs 3,274 crore in debt in January.
Capital inflow by FPIs is often referred to as hot money because of its unpredictability though it continues to remain one of the key drivers of the stock market.
"A major chunk of FPI money are sovereign wealth funds that belongs to wealthy nations. The Middle East region is one the largest suppliers of crude and their revenues in crude were used by their sovereign wealth funds to invest in emerging markets globally," SAS Chief Operating Officer (COO) Siddhant Jain said.

Latest News  from Business News Desk