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Foreign portfolio investors (FPI) continue to pull out investments from the Indian equities amid the severe Covid crisis and the lockdowns across states.

So far in May, FPIs have pulled out a net investment of Rs 6,427 crore from the equities segment, showed NSDL data.

The subdued investor sentiments come on the back of the deepened Covid crisis in the country.

The lockdowns and restrictions across states also have weakened the prospects of economic recovery, analysts said.

The selling in May continues after FPIs withdrew net investments of Rs 9,659 crore in April. The bearish trend last month came after incessant buying in the preceding six months.

The overall net investments in 2020 now stand at Rs 39,656 crore.