FPIs offload $5.5 bn of IT stocks since October amid rich valuations
According to the data from NSDL, foreign portfolio investors (FPIs) sold $5.5 billion (Rs 41,000 crore) of IT stocks in the past five months.
Synopsis
FPIs sold $1.7 billion worth of IT stocks in the second fortnight of January 2022, the highest among all the sectors.
ET Intelligence Group: Technology stocks, which are often considered as defensive bets during volatile market conditions, seem to have lost their appeal amid rich valuations. According to the data from NSDL, foreign portfolio investors (FPIs) sold $5.5 billion (Rs 41,000 crore) of IT stocks in the past five months. It was nearly 40% of the total FPI equity outflow of around $ 14.3 billion between October 2021 and February 2022. FPIs sold $1.7
Get Unlimited Access to The Economic Times 
