FPIs have turned cautious as they pulled out Rs 325 crore from Indian equities in the first week of this month owing to relatively high valuations and the upcoming general elections. The net outflow came after a staggering investment of Rs 35,000 crore in March and Rs 1,539 crore in February, data with the depositories showed. Going ahead, Geojit Financial Services Chief Investment Strategist VK Vijayakumar said the US 10-year yield has spiked to 4.4 per cent, which will impact FPI (foreign portfolio investor) investment flows into India in the near term. However, FPI selling will be limited despite the high US bond yields since the Indian stock market is bullish and has been setting new records consistently, he added. smallcase Manager and Senior Research Analyst at Capitalmind Krishna Appala believes that FPIs might return post-elections or upon early signs of a US Fed rate reduction. According to the data with the depositories, FPIs withdrew Rs 325 crore from Indian equities th