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FPIs jettison some sectors twice as fast the overall rate of outflows

Some got incremental inflows even amid the exodus, reveals fortnightly depository data

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Foreign outflows are likely to continue, according to a June 22 equity strategy report from global financial services major Bank of America Corporation. | Illustration by Binay Sinha

Sachin P Mampatta Mumbai
Foreign portfolio investors (FPIs) have dumped some sectors twice as fast the overall rate of outflows.

The FPI exits since May were around 0.6 per cent of their total equity assets under custody, reveals a fortnightly depository data.

Their selling has been twice as severe or more in sectors including consumer durables (1.6 per cent), metals and mining (1.7 per cent), telecommunications (2.2 per cent), and construction material (2.4 per cent).

The data on FPI investments are available on a daily aggregate basis. The analysis considered additional data on sectoral flows available on a fortnightly basis.

The latest data is