[ad_1]
Continuing their sales frenzy, foreign investors withdrew a net amount of 2881 billion rupees from the Indian financial markets during the first two sessions of August, driven by both domestic and global headwinds.
According to the latest custodian data, foreign portfolio investors (REITs) withdrew a net amount of Rs. 2,632.58 crore on equities and Fr. 248.52 crore on debt segment on 1 and 2 August, bringing the cumulative net outflow to 2,881.10 crores.
Previously, the REITs had withdrawn a net crore of Rs. 2,985.88 from the Indian financial markets (equity and debt) from July 1 to 31.
"The REITs have withdrawn more than their investments as the trade war between the US and China has resumed, which does not help investors," said Harsh Jain, Groww's operations manager.
In addition, "the announcement of rate cuts by the Fed in the US has sparked confused reactions and added uncertainty," he added.
REITs were net purchasers in the Indian capital markets in the first half of 2019, except in January. They infused a net crore of 10,384.54 rupees in June, a crore of 9,031.15 rupees in May, a crore of 16,093 rupees in April, a crore of 45,981 rupees in March and a crore of 11,182 rupees. in February.
However, the trend reversed in July after the announcement of a tax increase on REITs registered as trusts and badociations of people in the 2019 Union budget. -2020, said experts.
Feelings were also affected by the slowdown in the economy, weak quarterly results and the sub-normal monsoon, among other factors, they added.
Source link
