$10 billion sale! FII selling breaks all records. Is it just about China?
Although it comes on a higher base, October is turning out to be the highest-ever month in terms of FII selling. Back in March 2020, when FIIs had sold Indian stocks worth $7.9 billion (Rs 58,632 crore), Nifty had the month down 23% despite domestic institutional investors (DIIs) matching the selling with buying of Rs 55,595 crore.
This time also, while FIIs have sold stocks worth over Rs 83,000 crore, DIIs, which are mostly mutual funds, have spent Rs 74,200 crore to be on the other side of the trade in October so far, according to NSDL data.
Unlike 2020, retail investors aren't panicking and the Nifty is down about 4% in the month.
Amid the sell-off by FIIs, DIIs have made a record buying of Rs 4 lakh crore so far in the calendar year.
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