FPIs still sour on financial services, sell Rs 12,000 crore of stocks
Indian equities worth ₹36,082 crore across 19 sectors between January 1 and 15, according to NSDL data. Financial services continued to bear the brunt of unabated foreign selling, as these investors dumped shares worth ₹12,204 crore in the first 15 days of January after pumping over ₹3,000 crore into the sector in December. Overseas investors pulled out over ₹58,000 crore from the sector in 2024.
«Financial services have significant weight in the index and are some of the most liquid counters, which explains why the foreign selloff is aggressive in the sector,» said Saurabh Patwa, portfolio manager and head of research at Quest Investment. «Banks have, however, relatively decent results and there could be a revival of foreign flows in the sector.»
So far in January, foreign investors sold shares worth ₹62,102.25 crore. This comes after the sell off worth ₹1.20 lakh crore in 2024.
The consumer services and capital goods sectors witnessed foreign outflows worth ₹3,507 crore and ₹2,620 crore, respectively in the first 15 days of the month after global investors purchased a similar amount last month.
Overseas investors divested ₹3,115 crore in the power sector during the first-half of January, after they sold over ₹1,800 crore in December.
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