Foreign portfolio investors recorded their highest-ever single-day selloff on Wednesday, as they turned net sellers of Indian equities after two days.
FPIs offloaded equities worth Rs 10,578.1 crore, according to provisional data from the National Stock Exchange. The previous highest-ever single-day selloff was Rs 9,691 crore, on Nov. 3, 2017.
Domestic institutional investors stayed net buyers and mopped up equities worth Rs 4,006.4 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 6,630 crore worth of Indian equities so far in 2023, according to data from the National Securities Depository Ltd., updated till the previous trading day.
The benchmark indices hit the biggest intraday fall in over a year due to panic selling in shares of index heavyweight HDFC Bank Ltd.
The NSE Nifty 50 closed 460 points, or 2.09%, down at 21,571.95, while the S&P BSE Sensex fell 1,628 points, or 2.23%, to end at 71,500.76.
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