Financial services faces heavy FPI selloff

Mumbai: Shares of financial services companies recorded the highest selling by overseas funds across sectors in the second-half of April. Foreign portfolio investors (FPIs) dumped shares in the sector worth ₹12,550 crore between April 16 and April 30 after purchases worth ₹3,212 crore in the first half of the month, as per data from National Securities Depository Ltd (NSDL). The sector received inflows worth ₹52,900 in 2023.