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Foreign Portfolio Investors (FPI) who have turned cautious again, have so far withdrawn net investments worth Rs 4,515 crore in July.

Analysts said, the concerns over the 'Delta' variant of Covid-19 and rising oil prices have weighed in on the investor sentiments.

The sell-off comes after FPIs were net buyers of Indian equities in June. Last month, FPIs made a net investment of Rs 17,215 crore in the equities segment.

With the net selling in July so far, the net FPI investment in 2021 stands at Rs 55,829 crore, backed by robust investment in January-March.

High inflation and concerns of non-continuation of loose monetary policies also would impact investor sentiment.