FPIs sold healthcare and IT stocks in March

MUMBAI: Foreign portfolio investors (FPI) sold stocks in the healthcare and IT sectors in March, showed a report by Kotak Institutional Equities.

Stocks worth $223 million were sold last month by the foreign investors in the healthcare segment, while FPIs pulled out net investments worth $330 million in March from IT stocks, showed the 'Foreign fund-flow tracker, April, 2021'.

The largest quantum of FPI AUC (assets under custody) came from US-based investors, followed by those from Mauritius and Singapore.

Fund allocations to India by global emerging market (GEM) funds increased to 10.6 per cent in March from 10.2 per cent in February.

Listed funds saw inflows of $2.3 billion in March, led by ETF inflows of $1.5 billion, continuing the trend seen since November 2020. GEM funds saw inflows of $1.5 billion, led by ETF inflows of $940 million. India-dedicated funds saw inflows of $192 million, driven by ETF inflows of $313 million, which were offset by $121 million of non-ETF outflows. (IANS)

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