look news india
Mumbai: From the data it can be said that Foreign Institutional Investors (FIIs) have withdrawn huge investments from companies in the oil and gas sector and financial services sector in the current year. During the period from January to October of the current year, foreign investors have withdrawn a total investment of Rs 63871 crore from companies in the financial services sector and Rs 32000 crore from companies in the oil and gas sector.
After heavy selling in October, selling by foreign investors in the country’s equity portfolio has slowed down this month.
Oil and gas companies’ earnings declined 26 percent year-on-year in the September quarter due to volatility in crude oil prices. High crude oil prices have also reduced the gross refining margins of companies.
According to NSDL data, foreign investors have pulled out investments worth Rs 30,774 crore in 13 sectors in the first fortnight of November, with the largest outflow of Rs 7,214 crore from oil and gas companies.
Foreign investors have also withdrawn huge investment of Rs 63871 crore from companies in the financial services sector from January to October of the current year.
Foreign investors have increased investment in companies in healthcare, realty and IT sectors. After a massive net sale of Rs 114,445 crore in equity cash in October this year, selling by foreign investors has slowed down in November and they have sold equities worth Rs 40,947 crore so far.
The attraction of foreign investors towards China seems to be weakening due to the perception that America’s attitude towards China will be tough after Donald Trump’s victory in the US presidency.