FIIs buy big in telecom, services & capital goods; sharp sell-off in IT, healthcare

FIIs offloaded over Rs 2,725 crore worth of IT stocks in the second half of May, alongside Rs 2,008 crore in healthcare

Foreign institutional investors (FIIs) maintained strong buying interest in the telecom, services, and capital goods sectors during the second half of May, while they turned net sellers in IT, healthcare, power, consumer services, auto, and consumer durables.

In the telecom sector, FIIs ramped up their investments to Rs 7,052 crore in the latter half of May, significantly up from Rs 1,037 crore in the first half. Similarly, in the services sector, FII inflows surged to over Rs 6,210 crore, compared to Rs 1,762 crore in the first half. The capital goods segment attracted over Rs 3,094 crore in the second half, following Rs 2,233 crore in the earlier fortnight.

FMCG stocks saw a reversal in trend, with FIIs turning buyers to the tune of Rs 1,872 crore after offloading Rs 1,057 crore in the first half. Sectors like chemicals, construction, construction materials, and oil & gas also witnessed buying interest, with inflows exceeding Rs 400 crore each during the same period.

On the flip side, FIIs offloaded over Rs 2,725 crore worth of IT stocks in the second half of May, alongside Rs 2,008 crore in healthcare. The power and consumer services sectors each saw outflows of over Rs 1,700 crore.

In the auto and consumer durables segments, FIIs withdrew over Rs 1,500 crore and Rs 1,100 crore, respectively. Realty and financial services also faced selling pressure, with FIIs pulling out more than Rs 800 crore and Rs 700 crore, respectively, in the latter half of the month.

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