How has been the FII activity in India in March and how do see it going forward?

FII selling was heavy in March. FPIs had a risk-off week as they sold off heavily in Indian markets during the previous week ending 13 March 2020. During the first of March, the FPIs have pulled out nearly Rs.37,976 crore from the Indian markets. Out of this, Rs.24,776 was pulled out equities while the balance Rs.13,200 was pulled out of debt. In fact, between Feb 14 and March 13, the FPIs have pulled out a total of Rs.41,500 crore only from equities. The WHO declaring the Coronavirus a global pandemic, repeated travel shutdowns, the ongoing production losses as well as the Yes Bank fiasco took its toll on the FPI sentiments in March. For the time being it is likely to be strong selling only.