FPIs: FPIs dump financial services stocks worth $6.6 billion in 2024 as sector looks less rosy

FPIs have been net sellers of financial services stocks in six out of eight fortnights since the start of 2024. Consequently, the weight of the financial services sector dropped to a multi-year low of 28.28% on May 15.

Synopsis

National Securities Depository Ltd (NSDL) data showed foreign portfolio investors (FPIs) sold financial services stocks worth $6.6 billion (₹55,000 crore) since the start of this calendar year, nearly two-and-a-half times total outflows during the same period a year earlier.

ET Intelligence Group: Foreign investors’ interest in Indian financial services stocks, among the most overweight sectors for overseas investors, is waning as reflected in outflows from the sector.National Securities Depository Ltd (NSDL) data showed foreign portfolio investors (FPIs) sold financial services stocks worth $6.6 billion (₹55,000 crore) since the start of this calendar year, nearly two-and-a-half times total outflows during the same

BY

ET Bureau

3 mins read, Last Updated:

May 27, 2024, 05:28:00 AM IST

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