Financial services, FMCG stocks most sold by FPIs in February, shows data

The first fortnight of February witnessed significant selling by foreign portfolio investors (FPIs) to the tune of Rs 21,273 crore. This selloff was primarily driven by changes in US trade policy, which rattled global markets.

 

According to data compiled by Prime Infobase, financial services stocks bore the brunt of the selloff, with net selling amounting to Rs 5,344 crore. Other sectors experiencing significant outflows included fast-moving consumer goods (FMCG) at Rs 4,336 crore, capital goods at Rs 3,206 crore, oil and gas stocks at Rs 2,434 crore, and consumer services at Rs 2,262 crore. In contrast, telecom and healthcare stocks saw inflows of Rs 2,337 crore and Rs 1,534 crore, respectively.

 

"The average revenue per user has started moving up, and there is premiumisation in some of the products. Healthcare stocks are going up because of health-related costs," said Ambareesh Baliga, an independent equity analyst.

 

Despite the selloff, FPIs still have the highest sectoral allocation to financial services stocks, which stands at 29.85 per cent, up from 29.02 per cent at the end of January. Information technology stocks follow with the second-highest allocation at 10.5 per cent, compared to 10.3 per cent at the end of the previous month. Auto stocks saw a marginal decline in allocation from 7.3 per cent to 7.27 per cent.