FIIs pull out Rs 9,600 crore from stocks in 14 days

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The reverse flight of foreign funds from Indian stock markets continued for the third straight week, with FIIs pulling out over Rs 9,600 crore in just 14 days.
Over the last 14 trading sessions in the last three weeks, the foreign institutional investors (FIIs) pulled out Rs 9,634 crore from the Indian stocks, the data with the market regulator Securities and Exchange Board of India (SEBI) shows.

While they withdrew Rs 943 crore last week, a large chunk of Rs 7,043 crore was drawn out in the week ended January 29 followed by Rs 1,648 crore in the week ended January 24.

Analysts said with the US dollar strengthening against the Indian currency, foreign funds are preferring to shift their investments to their home country where they would get better returns.

During January, overseas investors were gross seller of equities worth Rs 58,630.60 crore, while they bought shares worth Rs 58,130.30 crore, resulting in a net sale of Rs 500.30 crore, as per the SEBI data.