Indian financial stocks hit by Rs 13,147 crore FII selling in September, largest outflow target
FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM
FIIs sold Rs 13,147 crore worth of financial services stocks in September, accounting for more than a third of their total equity outflow during the month. Banks and financials have remained the biggest target of foreign selling this year, with FIIs offloading Rs 1.15 lakh crore…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishMassive foreign selling in Indian financials signals loss of confidence and downward pressure on banking stocks.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01FIIs sold Rs 13,147 crore of financial services stocks in September, over one-third of monthly outflows.
- 02Banks and financials remain the biggest target of foreign selling in 2024.
- 03FIIs have already offloaded Rs 1.15 lakh crore from the sector year-to-date.