IT stocks see highest FPI selling worth ₹9,573 crore in April; Financials follow with ₹9,338 crore outflow

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₹8,600 in the month of April. As per the data available on National Securities Depository Ltd (NSDL), FPI selling in Indian equities during April stood at ₹8,671 crore and ₹5,076 crore in May so far. FPIs selling worth ₹14,079 crore in Indian equities was seen between April 16 and 30, as against inflows of ₹5,408 crore in the first half of the month.

Also Read: FPIs turn net sellers worth ₹8,671 crore in April after 2 months of buying; will the trend continue? A large chunk of FPI selling was concentrated in IT services, financials and FMCG shares last month, the NSDL data showed. In the second fortnight of April, i.e. between April 16-30, FPIs sold ₹4,915 crore worth shares in the Information Technology (IT) sector.

This comes after an outflow of ₹4,658 crore in the first half of the month. Thus, FPIs dumped a total of ₹9,573 crore worth IT stocks in April. This was followed by the Financials sector which saw a heavy FPI selling worth ₹9,338 crore during the month.

FPI offloaded financial shares to the tune of ₹12,550 crore between April 16 and April 30 after buying worth ₹3,212 crore in the first half of the month, data showed. Robust FPI selling was also witnessed in Fast Moving Consumer Goods (FMCG) and Oil & Gas sectors. They dumped FMCG shares worth ₹7,914 crore, and Oil & Gas shares worth ₹2,366 crore.

Between April 16 and 30, FPI outflows in the FMCG and Oil & Gas sectors stood at ₹3,563 crore and ₹1,443 crore, respectively. Also Read: FPIs continue buying cyclicals like capital goods, auto stocks while selling defensives in April On the contrary, overseas investors continued their buying momentum in Telecommunications and Capital Goods sectors in the second half of April. FPI investment in India’s telecom sector