Overseas portfolio traders (FPIs) prolonged their heavy sell-off in Indian equities this week, pulling out a web Rs 23,801 crore, as world uncertainties and rising crude oil costs continued to dampen investor sentiment.Information from the Nationwide Securities Depository Restricted confirmed that March had already seen substantial outflows, with FPIs offloading equities value Rs 1,17,775 crore, the best month-to-month promoting recorded thus far this 12 months.The persistent exodus has been largely attributed to the continued battle within the Center East, which exhibits no clear indicators of easing. A pointy rise in crude oil costs, coupled with the weakening of the rupee, has additional intensified stress on home markets, prompting overseas traders to cut back their publicity.Market consultants identified {that a} mixture of geopolitical tensions, elevated power costs and forex depreciation has created a difficult atmosphere for overseas investments.VK Vijayakumar, Chief Funding Strategist at Geojit Investments, stated March witnessed unprecedented promoting by FPIs.“March witnessed huge promoting by FPIs. That is the most important ever month-to-month promoting by FPIs. Continuation of the battle, crude once more spiking to above USD 100 stage, the regular decline within the rupee and appreciation of the greenback triggered this document promoting by FPIs,” he stated.He added that the weakening rupee has been a key issue accelerating the outflows.“Rupee depreciated by about 4% for the reason that battle started and fears of additional depreciation has added to the weak point of the rupee, which, in flip, is triggering additional promoting by FPIs,” Vijayakumar famous.Crude oil costs rising above the $100 per barrel mark have additionally heightened considerations round inflation and India’s import invoice, given its reliance on imported power. This has added to the pressure on the rupee and weighed on general market sentiment.Regardless of the sustained promoting, consultants consider that the market correction has introduced valuations to extra affordable ranges.“Sustained promoting by the FPIs have made Indian market valuations truthful and in some segments enticing. However FPI inflows can occur solely when there may be de-escalation on the battle entrance main to say no in crude,” Vijayakumar added.The continued pattern means that overseas investor exercise in Indian markets is at the moment being formed by world developments, notably geopolitical tensions and actions in power costs, with any reversal in flows possible depending on easing of those dangers.