Foreign Portfolio Investors (FPIs) pulled out ₹58,711 crore from Indian equities between October 1-11, driven by rising tensions between Israel and Iran, soaring crude oil prices, and China's strong market performance.
This comes after FPIs invested ₹57,724 crore in September, marking a nine-month high. In 2024, FPIs have been net buyers, except in January, April, and May. Brent crude oil surged from $69 to $79 per barrel within a month, adding inflation concerns for India. FPIs are now adopting a "Sell India, Buy China" strategy, shifting funds to China's more affordable stocks.