Foreign portfolio investors accelerate selling as oil prices shoot up

Further selling could test domestic investors' nerves: Analysts

Foreign portfolio investors (FPIs) have accelerated sales of stocks in the domestic market amid a surge in international oil prices and depreciation of the rupee. In just the past two trading sessions they have pulled out close to $2 billion (about Rs 15,000 crore).

The year-to-date selling from domestic stocks by FPIs has now touched nearly Rs 1 trillion.

The average daily sales this year is about Rs 2,200 crore. However, since the start of the Russia-Ukraine war, it has averaged about Rs 4,500 crore.

Experts say the current bout of selling by foreign funds is among the worst the