Overseas investors have pulled out Rs 18,000 crore from the Indian stock market in the first two weeks of December, according to data from the National Securities Depository Ltd.
Foreign portfolio investors net sold Rs 1,114 crore on Friday, marking a 12th consecutive session of selling, as per provisional data from the National Stock Exchange. The selloff is the longest since August.
FPIs have pulled out nearly Rs 1.6 lakh crore from domestic equities so far this year, as per NSDL data, which includes primary market transactions.
Equities have managed to weather the FPI exodus due to a steady supply of capital from local institutions and retail flows. Domestic institutions mopped up shares worth Rs 3,869 crore, extending their buying streak to the 36th session.
Indian benchmark indices staged a sharp rebound for the second straight session on Friday, lifted by strong global cues, though the week still ended in the red. The benchmark Nifty 50 gained 148 points or 0.6% to close at 26,047, while the Sensex added 450 points or 0.53% to settle at 85,267.66.
Broader market witnessed strong buying interest with Nifty Midcap100 and Smallcap 100 up by 1.2% and 0.9% respectively.
Most sectors showed steady gains, led by strong momentum in metals, realty, banking and financial services. Surge in metal stocks was backed by weakness in the dollar, Fed rate cut and China's recent announcement on 'proactive' fiscal policy which boosted investor sentiment.
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