FII selling keeps Indian stocks under pressure: Brokerages flag crude, global yields as key risks
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- ✓Indian equities posted their eighth straight weekly loss as sustained FII selling weighed on sentiment.
- ✓On October 1, the Sensex closed 571 points lower.
- ✓Pabitro Mukherjee said, "Foreign Institutional Investors continued to remain net sellers in the past week." Rising crude prices and high US bond yields also kept markets under pressure.
Story at a Glance
- Category
- MARKET
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
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Indian equities have posted their eighth straight weekly loss, the longest such streak in 25 years, as sustained FII selling, elevated US bond yields and higher crude prices weighed on sentiment.
On October 1, the Sensex closed 571 points and the Nifty declined 0.88%, extending losses for a fourth straight session.
With the market under pressure, Bajaj Broking and Motilal Oswal have identified persistent foreign institutional investor (FII) outflows and a challenging global environment as the primary reasons for the lacklustre showing.
"Foreign Institutional Investors (FIIs) continued to remain net sellers in the past week, offloading equities worth Rs 349.7 billion based on provisional exchange data," Bajaj Broking deputy vice president (research) Pabitro Mukherjee said.
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