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Indices find their feet as FPIs step off the gas pedal
Business Standard
|July 06, 2022
Overseas investor selling falls to a third in past fortnight
Foreign portfolio investors (FPIs) have taken helping markets find their sea legs after a brutal sell-off that saw key indices drop to 13-month lows last month.
In the past fortnight, the average daily selling by overseas funds has moderated to less than ₹1,400 crore, compared with nearly ₹3,500 crore in the preceding fortnight. This has helped markets stage a comeback.
Since June 17 - when the Nifty had ended at its lowest levels since May 2021 the market has surged nearly 5 per cent after dropping close to 8 per cent in the previous fortnight.
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