Overseas investors in Indian equities remained net sellers on Wednesday for the fifth consecutive session as the sell-off hit the highest in nearly a month. Foreign portfolio investors offloaded stocks worth Rs 6,669 crore—the highest since April 12, according to provisional data from the National Stock Exchange.
Domestic institutional investors remained net buyers for the 12th day and mopped up equities worth Rs 5,929 crore, the NSE data showed.
Foreign institutions have been net sellers of Indian equities worth Rs 2,854 crore so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
With the US Federal Reserve delaying rate cuts until the end of the year, market participants expect foreign inflows in Indian and emerging markets to continue to take a hit. FPIs will keep buying dollars, and inflows will take a beating with only one or a maximum of two rate cuts expected during the year-end, experts said.
The NSE Nifty 50 settled flat at 22,302.5 and the S&P BSE Sensex declined 45.46 points, or 0.06%, to end at 73,466.39.
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