MUMBAI, NOV 25: Net porfolio investments by foreign institutional investors (FIIs) fell by $ 65.7 million during the period from November 1 to November 21, the SEBI said on Tuesday.

November is likely to be the first month in which there is a net outflow of foreign investment since India opened its markets in 1993, brokers said. The trend began in the last week of October when foreign fund managers started reducing their exposures in emerging markets.

SEBI said cumulative FII investments stood at $ 9.046 billion, little changed from $ 9.05 billion on November 14. In rupee terms, gross purchases were Rs 668 crore and sales Rs 906 crore during November 1- November 21, leaving net sales of Rs 238 crore. Net investments by 100 per cent FII debt funds totalled $144.8 million during April 1 to November 21.

Gross purchases by these funds totalled Rs 109 crore and gross sales at Rs 565 crore during April 1 to November 21, resulting in a net investment of 5.24 billion. Together with net FII purchases in shares, the total foreign portfolio investments stood at $ 9.19 billion, the market regulator said.

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