Mumbai, July 22 (IANS) Massive outflows of foreign funds continued to subdue the Indian equity markets on Monday.
The ongoing flight of foreign funds continued on Monday with Rs 1,916.91 crore being pulled out of the BSE, the NSE and MSEI in the capital market segment.
Lately, foreign funds have been pulled out of the equity market due to the latest taxation surcharge on super-rich category which was announced on July 5 in full Budget 2019-20.
FPIs have pulled Rs 8,392.46 crore in the month of July till date, the highest outflow markets have seen in 2019.
Consequently, S&P BSE Sensex finished Monday’s trade 305.88 points lower at 38,031.13.
Similarly, the broader NSE Nifty50 closed 82.10 points lower at 11,337.15.