This marked the second instance in the current calendar year where foreign portfolio investors (FPIs) were net sellers in a month. The first month was in April when they offloaded ₹11,218 crore worth of bonds.
Geopolitical tensions, and with no immediate indication of domestic rate cuts, investors have been reallocating their portfolios to tap into higher-yielding assets, said market participants.
Additionally, China's potential stimulus announcement, expected on Thursday, could prompt further outflows from both bond and equity markets in India. This is because investors seek riskier, high-reward assets, said market participants.
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