FPIs Record Highest Net Selling Of Indian Equities In 2024

Overseas investors turned net sellers on Tuesday after remaining buyers for two consecutive sessions.

Foreign portfolio investors sold stocks worth Rs 12,436 crore, according to provisional data from the National Stock Exchange. This is the highest selling by foreign portfolio investors in 2024. This follows the markets taking a plunge, as poll trends indicated a closer-than-expected fight for the incumbent government led by Prime Minister Narendra Modi.

Domestic institutional investors turned net sellers after staying buyers for 10 straight sessions and selling equities worth Rs 3,319 crore, the NSE data showed. This is the highest sale by domestic institutional investors since April 5.

Foreign institutions have been net sellers of Indian equities worth Rs 14,339 crore so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

Indian equity gauges tumbled to log their worst session in over four years, with the NSE Nifty 50 closing 1,379.4 points, or 5.93%, lower at 21,884.5, while the S&P BSE Sensex ended 4,389.7 points, or 5.74%, lower at 72,079.