Foreign portfolio investors turn net sellers after nine trading sessions

Foreign portfolio investors (FPIs) have turned net sellers for the first time after nine trading sessions on Wednesday.

According to provisional data provided by stock exchanges, overseas funds were net sellers to the tune of Rs 919 crore. 

In the previous nine sessions, foreign institutional investors (FIIs) pumped in over Rs 24,000 crore ($3.2 billion), triggering a 12 per cent jump in benchmark indices. 

The entire amount hasn’t gone into buying stocks from the secondary market. A major portion of these flows has come on account of share sales in several bluechip stocks.