If you thought that the temporary US-Iran truce would bring about a change of heart among foreign portfolio investors (FPIs) in India, well, that hasn’t happened. At least, not yet.

On 15 June, the day after the peace deal was announced, FPIs were net buyers in Indian stocks, to the tune of Rs 200 crore. But the following two days, they quickly reverted to being net sellers, offloading about Rs 750 crore each day. 

Sure, the pace of selling has slowed compared to the first fortnight of June, when they pulled out nearly Rs 40,000 crore........

© The Ken