 "FPIs")
The Indian equity market has been dancing to the tune of foreign portfolio investors (FPIs) for more than two decades now. Typically, when FPIs are net-buyers on Dalal Street (D-Street) and raise their ownership of Indian equities, the broader market rallies. Conversely, when FPIs turn net-sellers, the stock prices decline.
FPIs have been net-sellers on D-Street for five quarters on the trot and the result has been predictable.
The average FPI stake in BSE 200 companies declined from a high of 25.5 per cent at the end of March 2021 quarter to 22.2 per cent at the end of June
