Financial services witnessed the highest outflows from foreign investors who sold shares worth ₹7,536 crore in the sector, after selling over ₹30,000 crore in January on concerns over increasing cost of funding and rise in operating costs. Last year, the sector had received robust inflows worth ₹52,900 crore.
Foreign portfolio investors offloaded shares worth ₹4,251 crore in the construction sector while telecommunications and fast-moving consumer goods (FMCG) too witnessed outflows worth over ₹3,000 crore.
AgenciesThe telecommunications and power sectors witnessed a shift in foreign investor sentiment, as they turned net sellers worth ₹3,766 crore and ₹2,895 crore after buying ₹2,645 crore and ₹2,561 crore in January, respectively. The FMCG sector continued to witness outflows worth ₹3,011 crore in the first half of February, in addition to outflows worth ₹2,650 crore in January.
Foreign portfolio investors bought shares worth ₹18,521 crore across 13 sectors in the first half of February. Healthcare received the highest inflow of ₹4,212 crore after selling worth ₹362 crore in January as foreigners lapped up some of the underperforming stocks in the sector. These investors who have kept purchases in information technology (IT) stocks to the minimum, pumped over ₹3,000 crore into the sector. IT stocks have witnessed strong foreign inflows so far in 2024 after these investors sold shares worth ₹7,066 crore in 2023.
Overseas investors bought shares worth ₹2,539 crore in the automobile sector after selling shares worth ₹2,067 crore in the sector in January.
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