Foreign investors' brief return to Indian equities appears to be losing steam, with FPIs again turning sellers in September after two months of inflows. After buying Rs 11,045 crore in July and Rs 10,231 crore in August, foreign institutional investors have resumed selling in the secondary market. NSDL data up to September 19 shows FPI outflows of Rs 23,676 crore through the exchanges.
July and August had raised hopes that foreign investors were coming back after a long selling spell earlier in the year. FIIs had sold Rs 34,152 crore in January, bought Rs 12,950 crore in February, and then sold heavily between March and June. March alone saw outflows of Rs 1.15 lakh crore, followed by Rs 71,203 crore in April, Rs 50,188 crore in May and Rs 35,174 crore in June.
