New Delhi, Business Desk. Before the general budget 2023, foreign investors have a negative trend regarding the stock market. This is because, since the beginning of January, Foreign Portfolio Investors (FPIs) have sold more than 17,000 crores in the stock market.According to the depositories’ data, FPIs have sold a total of Rs 17,023 crore in the market till the last trading session till January 27. Earlier, Rs 11,119 crore was invested in December and Rs 36,239 crore in November. At the same time, in 2022, foreign investors had withdrawn a total of Rs 1.21 lakh crore from the market.
FPI eyes on budget 2023 Talking to news agency PTI, Himanshu Srivastava, Associate Director-Manager Research, Morningstar India, said that FPIs are taking a cautious approach as there are big events like the US Federal Reserve meeting on February 1 and the General Budget 2023. The meeting of the Monetary Policy Committee in the US will be held from January 31 to February 1.investment in other developing VK Vijayakumar, chief investment strategist at Geojit Financial Services, said in January, FPIs sold in India and bought in cheaper markets such as China, Hong Kong, South Korea and Thailand. At the same time, Srivastava said on this that after the end of Zero Covid policy, the lockdown is opening again in China and the cases in Corona have also reduced as compared to earlier. Valuations in the Chinese stock market are attracting FPIs.