The selling phase in the Indian stock market continues. In the first week of May also, foreign investors have sold a lot of shares. According to the latest data, from May 2 to May 6, foreign portfolio investors (FPIs) withdrew Rs 6,417 crore from the equity market.
Earlier in the month of April also, foreign investors had withdrawn Rs 17,144 crore. At the same time, Rs 41,123 crore was withdrawn in March 2022, while it was Rs 35,592 crore in February and Rs 33,303 crore in January.
Read this-Tension increased for home buyers, now taking home loan from HDFC becomes expensive
Let us tell you that last week, the repo rate was increased by 0.40 percent by the RBI. After this the repo rate has gone up to 4.40 percent. This was sooner than expected, due to which the stock market appeared to be crawling. RBI has taken this decision due to rising inflation.
At the same time, globally, the US Federal Reserve and Bank of England have also raised their key rates to deal with inflation.