Team Blitz India
NEW DELHI: The selling spree in Indian stock markets by foreign portfolio investors (FPIs) turned aggressive in May, partly attributable to a strong US dollar, sticky inflation particularly in the food segment, and poll outcome-related anxieties.With over 10 days more to go in May, the latest data from National Securities Depository Limited (NSDL) showed that foreign investors sold Indian stocks worth Rs 28,000 crore.
In April too, FPIs were net sellers in Indian stocks, as the ongoing geopolitical crisis in the Middle East then likely pushed investors to take money off their portfolios.
FPIs, who continued to remain net buyers for the third month until till mid-April, have cumulatively sold stocks worth Rs 8,671 crore by the end of the month, NSDL data showed.
