Foreign investors turned their heaviest fire on banking and financial stocks in September, selling Rs 13,147 crore worth of financial services shares as renewed outflows hit Indian equities and dragged the Nifty into its longest weekly losing streak in 25 years.
Sectoral data for September shows FIIs sold Rs 35,861 crore across Indian equities during the month. Financial services alone accounted for more than a third of that outflow, making it the most-sold sector by a wide margin.
