NEW DELHI : Foreign investors turner net sellers in March quarter and pulled out USD 6.4 billion from the Indian equity markets largely due to the COVID-19 outbreak and ensuing risk-averse environment, a Morningstar report said.
In comparison, foreign portfolio investors (FPIs) bought net assets worth USD 6.3 billion in three months ended December 2019.
FPIs were net buyers in January (USD 1.71 billion) and February (USD 265 million). They, however, went on a selling spree in March as they sold net assets worth USD 8.4 billion. “The uncertainty over the gravity of the pandemic's impact on the global economy and financial markets worldwide triggered a flight to safety among foreign investors as they rushed to exit from relatively riskier