- Wealth PMS
Foreign Portfolio Investors (FPIs) have, in a strange way, sold a lot of debt, while continuing to buy equity. In June, while they sold a bit through the last few days, they have been net buyers of stocks. To the extent of 3800 cr. But they’ve been selling debt, where they have sold over 7000 cr. till Jun 27.
This is the largest amount of FPI exits in Debt in over a year.
This would be the first “negative” year for debt since 2013, if things continue this way.
Note: we warned in our Macronomics piece that FPIs are not finding corporate debt attractive at all. Get Capital Mind Premium for all our premium mails into your inbox and much more!