New Delhi, 13 October (H.S.):

Foreign investors turned net sellers in October, withdrawing shares worth ₹58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market.

The outflow came following a nine-month high investment of ₹57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities, after withdrawing ₹34,252 crore in April-May.

Overall, FPIs have been net buyers in 2024, except for January, April, and May, data with the depositories showed. Looking ahead, global factors such as geopolitical developments and the future direction of interest rates will play a crucial role in determining the flow of foreign investments into the Indian equity markets, say experts. According to the data, FPIs made a net withdrawal of ₹58,711 crore from equities between October 1 and 11.

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Hindusthan Samachar / Nimish kumar