Foreign portfolio investors have withdrawn around Rs.20,974 crore from Indian equities so far in September, reflecting caution towards emerging markets. Higher US interest rates, elevated crude prices and a weaker rupee have contributed to the selling pressure.
The outflows come after foreign investors had remained net buyers for several consecutive fortnights. Healthcare has attracted comparatively stronger foreign interest, while financials, automobiles, oil and gas and FMCG have faced significant selling during the month.
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