New Delhi: Foreign portfolio investors pulled out around Rs 7,712 crore from Indian equities in this month so far following the 'super-rich' tax announced in the budget for 2019-20, according to analysts.
FPIs had been net investors in the equity segment in the previous five months. According to the latest data available with depositories, a net sum of Rs 7,712.12 crore has been pulled out from equities during July 1-19. However, foreign portfolio investors (FPI) pumped in Rs 9,371.12 crore in the debt segment during the period.
This has translated into a net investment of around Rs 1,659 crore in July so far into the capital markets (both equity and debt).
Commenting on the massive withdrawal from equities, Himanshu Srivastava, senior analyst manager research at Morningstar said, "FPIs have been on a selling spree ever since government proposed 'super-rich' tax in its budget and with no respite in sight from the government, the quantum of net outflows shot up."
