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Foreign portfolio investors (FPIs) have been net sellers of domestic equities for the seventh straight month in April — their longest monthly selling streak since the global financial crisis (GFC) in 2008.
A combination of headwinds such as hawkishness by global central banks, the raging war in Ukraine, a spike in commodity prices, and stretched valuations have led to continuous pullout by overseas funds from the domestic market. Since October 2021, FPIs have sold Indian stocks worth a record $22 billion (about Rs 1.7 trillion). In 2008, FPIs were net sellers for seven straight months between May and November. Back
