New Delhi: Foreign portfolio investors (FPIs) were net sellers in the Indian markets to the tune of Rs 8,879 crore so far in December.

As per depositories' data, they took out Rs 7,462 crore from equities, Rs 1,272 crore from the debt segment, and Rs 145 crore from hybrid instruments during December 1-10. This took the total net outflow to Rs 8,879 crore during the period. In November, FPIs were net sellers to the tune of Rs 2,521 crore in Indian markets.

There continues to be concerned over the highly transmissible Omicron variant of coronavirus, which has impacted global growth outlook and could play a spoilsport, said Himanshu Srivastava, Associate Director (Manager Research) of Morningstar India.

This has already turned investors risk-averse. Adding to it, Shrikant Chouhan, Head-Equity Research (Retail) at Kotak Securities, said there is the expectation of rising inflation and expectation of monetary tightening by the US Federal Reserve.

VK Vijayakumar, Chief Investment Strategist at Geo jit Financial Services, said sustained selling has been witnessed in banking in which FPIs have the largest holding. They have been sellers in information technology (IT), too.

Source- PTI