All India Radio Twitter handle deletes tweet about Foreign investors pulling out Rs 1.1 lakh crore from Indian markets

Foreign portfolio investors (FPIs) have pulled out Rs 1,14,855.97 crore from the Indian markets so far this year. Foreign investors continue to be sellers in the Indian markets amid geopolitical tensions and concerns over inflation.

Earlier All India Radio News’s official Twitter handle tweeted, “Foreign investors have pulled out 1.1 lakh crore from Indian capital markets in the first quarter of this year.” Now this tweet has been deleted from the All India Radio News, perhaps someone from the Indian govt instructed AIR to delete the tweet.

According to depository data, FPIs have withdrawn Rs 48,261.65 crore from the Indian equity markets so far this month. Thus, till date, the figure of foreign investor withdrawal in 2022 has reached Rs 1,14,855.97 crore.

Experts say that due to the macroeconomic situation at the global level and inflationary pressure due to Russia-Ukraine tension, foreign investors are pulling out from the Indian markets. This is the sixth consecutive month that foreign investors have made net withdrawals from the Indian stock markets.

Shibani Kurian, Senior EVP and Head (Equity Research), Kotak Mahindra Asset Management Company said, “The direct impact of the Russia-Ukraine war on the Indian economy is very limited as we do not have import dependence from these countries. However, high commodity prices are creating challenges.”

Kurien said that India is a net importer of crude oil. “It is estimated that a 10 per cent jump in crude oil prices will impact the current account deficit (CAD) by 0.3 per cent, CPI-based inflation by 0.4 per cent and gross domestic product (GDP) by 0.2 per cent.

According to depository data, FPIs pulled out Rs 28,526.30 crore from Indian stock markets in January. His withdrawal in February stood at Rs 38,068.02 crore. So far in March, he has sold Rs 48,261.65 crore.

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