Foreign portfolio investors turned net sellers of Indian equities after six months of sustained buying amid rising US interest rates and dollar appreciation.
The FPIs offloaded stocks worth Rs 14,768 crore in September, after buying equities worth Rs 1.69 lakh crore from March to August this year, according to data from the National Securities Depository Ltd.
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The FPIs marked their longest selling spree worth Rs 17,112 crore in the last nine trading days of September. However, the domestic investors remained net buyers during eight of the last nine days, and have remained bullish in September. The DIIs stayed net buyers for the second straight month by mopping up stocks worth Rs 20,312 crore, according to the data from the National Stock Exchange.
On a net basis, the Indian equities saw institutional outflow of Rs 6,379.3 crore in September against buying worth Rs 4,977.4 crore in the previous month.
On Friday, the S&P BSE Sensex closed up 320 points, or 0.49% at 65,828.41, while the NSE Nifty 50 was 115 points, or 0.59% higher at 19,638.30.
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