It is time to rejig portfolios

In the last six months, foreign portfolio investors (FPIs) pulled $19 billion out of Asia's Emerging Markets. That included FPI selling of rupee debt to the tune of Rs 400 billion and sales of Rs 57 billion of rupee equity.
 
The FPI sales were more than matched in the equity space by Domestic Institutional inflows of Rs 597 billion. Taking the five month period, January-May 2018, equity mutual fund (MF) inflows amounted to Rs 356 billion, which is a large proportion of the Rs 597 billion contribution by all domestic institutional investors (DIIs). In the first two months of