FPIs Offload Stocks Worth Rs 7,702.5 Crore In Year's Biggest Single-Day Selloff
The FPI selloff mirrors concerns about rising U.S. yields and the Israel-Hamas war.
Indian markets recorded the biggest single-day equity selloff of the year by overseas investors as global concerns continue to roil stocks.
Foreign portfolio investors offloaded stocks worth Rs 7,702.5 crore on Thursday, according to provisional data from the National Stock Exchange. That's the most so far this year and the second straight day of outflows.
Domestic institutional investors turned net buyers and mopped up equities worth Rs 6,558.5 crore, the NSE data showed.
The FPI selloff mirrors concerns about rising U.S. yields and the Israel-Hamas war. Indian equity benchmarks fell for the sixth straight day, the longest losing stretch in more than seven months.
Foreign investors sold stocks worth Rs 14,768 crore in September, after buying equities worth Rs 1.69 lakh crore between March and August this year.
Domestic investors remained net buyers in October and mopped up stocks worth Rs 26,271.62 crore, according to NSE data as of Thursday.
On a net basis, in October, Indian equities witnessed an institutional outflow of Rs 597.57 crore as of Thursday.
The S&P BSE Sensex closed 900 points down, or 1.41%, at 63,148.15, while the NSE Nifty 50 ended 265 points, or 1.39%, lower at 18,857.25.
Foreign institutions have been net buyers of Rs 1.07 lakh crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
