IT, banking, energy topped selloff in Feb as FPIs pulled out $4.7 bn

Selling was seen in most sectors save metals and mining, pharma and telecom

Information technology (IT), banking and financial services, oil & gas, and FMCG bore the maximum brunt of foreign portfolio investor selling (FPI) last month.

In February, FPIs sold shares worth $4.7 billion and selling was seen in most sectors except metals and mining, pharma and telecom.

The FPIs sold IT shares worth $1.45 billion. The selling affected the sector's performance. On a year to date basis, the BSE IT index is down 7.7 per cent.

In February, FPIs sold shares worth $1.32 billion in the banking and financial sector, $638 million in the oil and gas sector and $584 million