FPI selling crossed Rs 52,000 crore in October while Nifty defied the foreign exodus.
Context
What happened: Foreign portfolio investors pulled out over Rs 52,000 crore from Indian equities in October, surpassing September outflows.
Key numbers: Over Rs 52,000 crore of FPI outflows in October, exceeding September outflows.
Why it matters: Despite persistent FPI selling driven by rising US Treasury yields and elevated crude oil prices, Nifty and Sensex rebounded sharply, supported by robust domestic institutional buying and IT sector gains.