FPI outflows for the month of June have set several records amid broader macro-economic uncertainties, such as a likely recession in the US, aggressive rate hikes by central banks and a global slowdown. The selling so far in 2022 at Rs 2.1 lakh crore is the highest ever seen during the first-half of any calendar year and it is also the second-highest monthly outflow at Rs45,000 crore with the ninth straight month of selling by FPIs which began in October, totalling Rs 2.5 lakh crore of outflows during this period. 92584466Experts say central banks will raise rates further but the extent of the increases is quite uncertain and will depend on the trajectory of growth and inflation. Indian indices fell over 5% in June and about 9% so far this year. “Valuations have to become more reasonable for foreign investors to look at India more favourably. There’s a lot of uncertainty with respect to domestic and global inflation and oil,” said Sanjeev Prasad, co-head, Kotak Institutional Equities. “Indian valuations are high and consumption-related sectors are still very expensive. There’s no urgency for the FPIs to invest in India,” said Prasad.