Participatory notes investments hit nearly 11-year low till December-end

The inflow through P-notes in December was the lowest since February 2009, when the cumulative value of such investments stood at Rs 60,948 crore.

Investments in the capital market through participatory notes (P-notes) continued to decline and hit a nearly 11-year low of Rs 64,537 crore at the end of December 2019.

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the total value of P-note investments in the markets — equity, debt, and derivatives — slumped to a fresh low of Rs 64,537 crore till December-end, after hitting a 13-month low