Will FIIs Rock the Indian Markets?
The Indian equity market has experienced a sharp decline in recent weeks, particularly during the last week of September and the first week of October. The primary factor behind this fall is the continuous selling by foreign institutional investors (FIIs). As of mid-October, FIIs have offloaded shares worth ₹62,126 crore—the largest sell-off in over four-and-a-half years, second only to the ₹61,973 crore outflow in March 2020 at the onset of the coronavirus-triggered pandemic. From September 27 onwards, the total FII outflow has already crossed ₹73,000 crore.
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