FY25 heading for worst ever equity selloff amid weakening rupee, sustained FPI secondary selling
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An unabated outflow in the secondary market since October is likely to result in the worst ever annual equity selloff for FY25 in rupee terms by foreign portfolio investors (FPIs). They sold Rs30,015 crore worth of equities including primary and secondary markets in the first two weeks of March, taking the total outflow during the fiscal year so far to Rs 1.5 lakh crore. It has surpassed the earlier peak outflow of Rs1.4 lakh crore in FY22. In the dollar terms, FPIs sold $17,664 million worth of equity in FY25 so far, which is lower than $18,468 million sold in FY22. The difference in the rupee and dollar denominated numbers can be attributed to the 12% depreciation in the rupee between FY22 and FY25. ETMarkets.com ETMarkets.com Live Events FPIs were net sellers in the secondary market in March for the first fortnight, selling $3,628 million worth of equities. They remained net sellers on each of the nine trading sessions during the per...