Participatory notes (P-notes) are issued by registered
According to Sebi data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1.43 lakh crore at the end of January this year as compared to Rs 1.49 lakh crore at the end of December 2023.
The growth in P-notes generally aligns with the trend in
Market experts said that FPIs started the new year with a cautious approach opting to book profits in the Indian equity markets as key stock indices touched all-time high levels.
Moreover, uncertainty over the interest rate scenario also prompted them to stay on the sidelines and wait for further cues, before deciding to invest in emerging markets like India, they added.
Of the total Rs 1.43 lakh crore this route till January 2024, Rs 1.26 lakh crore was invested in equities, Rs 16,731 crore in debt and Rs 445 crore in hybrid securities.
On the other hand, assets under custody of FPIs grew to nearly Rs 67 lakh crore in January this year from Rs 66.09 lakh crore in the preceding month.
Meanwhile, FPIs pulled out over Rs 25,700 crore from equities last month, however, they infused Rs 19,836 crore in the debt market.