Punjab National Bank disclosed a Rs11,400 crore fraud involving jewellers Nirav Modi and Mehul Choksi and their group firms. Photo: Abhijit Bhatlekar/MintNew Delhi: Foreign investors have pulled out nearly Rs10,000 crore ($1.5 billion) from the Indian stock market so far this month primarily due to the PNB fraud jitters coupled with global cues. This is against the total inflow of over Rs13,780 crore by foreign portfolio investors (FPIs) in January, latest data with the depositories showed. However, they put in over Rs1,500 crore in the debt markets during the period under review. The inflow in debt market is expected when the arbitrage between the selling debt and buying equity squeezes.”

Source: Mint February 25, 2018 06:00 UTC