FPIs selling spree continues; pull out Rs 5,800 cr from equities in Nov

Foreign Portfolio Investors (FPIs) selling spree continued as they dumped Indian equity worth over Rs 5,800 crore this month so far on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Going forward, this selling trend is unlikely to continue as the US Federal Reserve signalled a dovish stance in its meeting last week, experts said. According to the data with the depositories, FPIs sold shares to the tune of Rs 5,805 crore during November 1-10. The FPI selling trend which started in September continued in October and is showing no signs of reversing in November even though the intensity of selling has come down this month. This could be largely attributed to the growing

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