FPIs outflow over ₹15,200 cr in Indian equities so far in Jan; sells big in financials, IT stocks

Foreign portfolio investors (FPIs) remained as net sellers so far in the current month. The week from January 16 to 20th also witnessed significant foreign investors’ funds outflow. FPIs have emerged as big sellers in stocks of financials, IT, and telecom baskets. While metals and mining are among the favorites. FPIs’ selloff is likely due to their positioning in cheaper markets in Asia and hence pullback in expensive Indian equities.