Foreign portfolio investors have aggressively sold Indian stocks in January, turning net sellers in the Indian equity market, after making a beeline to accumulate domestic stocks during the past two months--November and December.
The latest data available from the National Securities Depository Limited (NSDL) showed that the FPIs sold Indian stocks worth Rs 16,601 crore in January.
Indian stock indices were highly volatile on Monday, to later settle for the day in the red, primarily attributable to profit booking by investors after a consistent rise over the past few weeks.
The latest fund inflows started after the recent banking crisis in the US, leading to the Silicon Valley Bank's closure, among others, in March. Also, India's strong economic outlook seemed to have a renewed appetite for domestic stocks.
New Delhi [India], Aug 24 (ANI): In a major relief to foreign portfolio investors (FPI), the government on Friday announced to scrap the enhanced surcharge on long and short-term capital gains arising from the transfer of equity shares.