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FIIs sell equities for fourth straight month, biggest losing streak in five years

However, Vijaykumar expects a post-Budget rally triggered by some positive proposals can turn the market around prompting FPIs to turn buyers.

January 28, 2022 / 07:28 PM IST

Foreign institutional investors (FIIs) remained sellers in Indian equities for January, the fourth consecutive month, marking the longest such streak in five years. They turned aggressive sellers in the last few sessions, spooked by rising US bond yields and oil prices.

FIIs have sold around $3.05 billion of Indian equities so far in this month, the most since March 2020, and have been on a selling spree since October 2021, offloading a combined worth of $8.17 billion shares in these four month. The last four-month selling streak was seen in January 2017.

“The recent FPI (foreign portfolio investor) selling is due to the prospects of an end of monetary stimulus across the globe and raising of interest rates. This can impact valuations of equities and can result in reversal of carry trade that was one of the reasons of the previous bull runs,” said Deepak Jasani, head of retail research, HDFC Securities.