Bank, auto, FMCG: Sectors on FPIs' radar as they turn focus back on India

The swing in favour of Indian equities comes after a brutal sell-off where FPIs sold equities worth Rs 2.56 trillion since October 2021

Banks, information technology, capital goods and the automobile sectors could be on foreign portfolio investors’ radar as they turn back focus to Indian equities after a gap of around nine months, said analysts. While most analysts believe that the worst could be over as regards FII/FPI selling – and hence equity markets – they do warn against intermittent selling on the basis of macro-economic and geopolitical developments and how the policy-makers react to it.

Foreign Portfolio Investors (FPIs) put a brake on their merciless selling in July as they bought equities worth Rs 4,989 crore in July, data showed. Even