In November, foreign institutional investors pulled money from Indian stocks at the fastest pace since 2008.
Despite the Rs 17,737 crore pulled out by FIIs, the Nifty fell just 4.7 percent last month. In fact, the Nifty's fall was much lower than the corrections seen in previous months of heavy outflows.
The reason – domestic institutional investors stepped up, buying stocks worth Rs 18,277 crores in November.
In fact, this was the first time since 2008 that DII inflows exceeded the figure for foreign portfolio outflows.
One final point to mull over. FPIs turned net buyers on December 6, ending the 18-session selling streak, and that buying continued even on December 7.
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