FPIs remain net sellers in Oct, pull out Rs 3,825 cr

Foreign portfolio investors (FPIs) have turned net sellers in Indian market by pulling out Rs 3,825 crore in October so far.

In the past two months, huge buying was witnessed in the debt segment when FPIs had Rs 13,363 crore in September and Rs 14,376.2 crore in August.

However, so far, in October, FPIs have pulled out Rs 1,494 crore, depositories’ data showed.

From equities, FPIs took out Rs 2,331 crore.

The total net outflow stood at Rs 3,825 crore during October 1-22.

V K Vijayakumar, chief investment strategist at Geojit Financial Services, said, ‘FPIs have sold software stocks worth Rs 5,406 cr in the first half of October even though the second quarter (Q2) results of software companies were good. So, this is a clear case of profit booking.

FPIs have been buyers in financial services.’ Himanshu Srivastava, associate director (manager research) of Morningstar India, said FPIs have preferred to stay on the sidelines, adopt a wait-and-watch approach and continue to book profits along the way.

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