In October, FPIs sold shares worth Rs 94,017 crore after a September purchase, where FPIs bought domestic equities worth Rs 57,724 crore. While in August, they had purchased shares worth Rs 7,322 crore which was down month-on-month from July when the total buying figures stood at Rs 32,359 crore.

In June, they were net buyers at Rs 26,565 crore after remaining net sellers in April and May when they sold equities worth Rs 8,671 crore and Rs 25,586 crore respectively.

In February and March they were net buyers at Rs 1,539 crore and Rs 35,098 crore after starting the year on a negative note in January when they offloaded shares worth Rs 25,744 crore.

On Friday, the foreign institutional investors (FIIs) were net sellers at Rs 1,278.37 crore while the domestic institutional investors (DIIs) were net buyers at Rs 1,722.15 crore.

Commenting on the current FPI trends, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services attributed three main factors behind the ongoing selling by FIIs. “One is the ‘Sell India, Buy China’ trade. Two, the concerns surrounding FY25 earnings and three is the ‘Trump trade.’ Of the three, the ‘Sell India, Buy China’ trade is over. The Trump trade also appears to be on its last leg since valuations have reached high levels in the US,” he added.In his view, the FII selling in India is likely to taper off soon given the valuations of largecap stocks coming down from the earlier elevated levels. “FIIs have been buying IT stocks and this has been imparting resilience to IT stocks. Banking stocks have been resilient despite FII selling, mainly due to DII buying,” Vijayakumar added.

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