FPIS SOLD `3,233.48 CR NET ON TUESDAY

The sell-off by FPIS is due to the expectation of delay in interest rate cuts by the US Federal Reserve and also the recent amendment in the India-mauritius tax treaty has raised concerns of greater scrutiny on investments

Analysts said the rise in

Research ana ly st,hdfc securities.

Analysts said the rise in conflict between Iran and Israel has made global investors risk averse, resulting in higher demand for the greenback on safe haven appeal.

Last week, Iran launched drones and missiles on Israel, in retaliation for a strike by the latter on it on April 1, which raised fear of a wider conflict between the two nations.

Demand for the dollar has also increased fromfpisw ho are heavily selling in the equities market.

On Tuesday, FPIS sold Rs 3,233.48 crore of equities on a net conflict between Iran and Israel has made global investors risk averse, resulting in higher demand for the greenback on safe haven appeal

Demand for the dollar has also increased from FPIS who are heavily selling in the equities market

basis, after selling around rs 8,000 crore on Monday, as per the data from the National Securities Depository Ltd (NSDL).

The sell-off byfp isis due to the expectation of delay in interest rate cuts by the us federal reserve and also the recent amendment in the India-mauritius tax treaty has raised concerns of greater scrutiny on investments.

Recently, india signed a protocol amending the double taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance.

The rupee weakened due to