Financial services, IT top on FPI selloff list in May

Mumbai: Overseas investors were sellers of Indian equities worth ₹27,258 crore across 14 sectors between May 1 and 15, as per NSDL data. Financial services and information technology sectors witnessed the highest selloff in the same period. Foreign investors offloaded shares worth ₹9,687 crore and ₹5,574 crore in the financial services and IT sectors, respectively. In April, the two sectors witnessed selling of over ₹9,000 crore each. In 2023, financial services had received foreign inflows worth ₹52,900 crore while IT saw selling worth ₹7,066 crore.