FIIs started buying stocks expected to benefit from a reopening of the regional lockdowns while defensive sectors saw an outflow in the month. However, in April, banking and financial, oil and gas, and metals and mining stocks were sold most by FIIs. Six Indian stocks were added, and one was removed from the MSCI Global Standard Index, while there are slight weight reductions in a few heavyweight stocks in other indices. In May, FIIs were net buyers of Indian shares worth $748.91 million after selling $1.48 billion in the previous month. But the sheer momentum in Indian markets has forced FPIs to change their strategy.

Source: Mint June 04, 2021 15:19 UTC