New Delhi: Foreign investors have pulled out nearly Rs 4,000 crore from the stock markets in the last four trading sessions amid weak GDP numbers and lacklustre global cues.
This comes on top of a record net outflow of Rs 17,428 crore from equities last month. This was the highest net outflow by foreign portfolio investors (FPIs) in a single month since 1997.
The segregated data prior to 1997 was not available.
FPIs withdrew a net sum of Rs 3,825 crore from equities during September 1-4, according to depositories data, which include Friday's provisional figures.
Market experts attributed the huge outflows to sustained global risk-off trend along with concerns over economic slowdown in China.
Besides, China's weak PMI and lower GDP growth in India dampened sentiments. Moreover, the stance of the US Fed continued to affect investor sentiment, they added.
However, analysts believe that the outflows are unlikely to continue for a long time.
The growth data showed the economy grew at 7 per cent in April-June, from 7.5 per cent in the preceding quarter.
Not just that, Nikkei India Manufacturing PMI stood at 52.3 in August, as against 52.7 in July, a sign that the sector grew at a slower pace.
Since the beginning of the year, FPIs have made a net investment of Rs 24,424 crore in equities and Rs 38,329 crore in debt markets.
