Foreign investors are selling the very sector that could determine the next move in India’s largecap market. Financial services saw net FII outflows of ₹6,204 crore in the fortnight ended September 15, the sharpest selloff among all sectors. The reversal was significant as the sector had attracted ₹10,494 crore in August.
Yet two mutual fund chief investment officers argue that the selling may be creating, rather than closing, the next major largecap opportunity.
