Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
While the seasonality aspect for the month hasnt been very strong with the index giving negative returns in 5 out of the last 10 November months, the period from Navratri to Diwali Muhurat trading session has generally been positive for the markets.
Foreign institutional investors sold shares worth Rs 696.02 crore, while domestic institutional investors bought Rs 340.25 crore worth of stocks on October 31, provisional data from the National Stock Exchange showed.
“We are very positive on India.India is the second largest in our portfolio, and we have made a lot of money in the last two years. So, we are very positive on the Indian economy and companies,” Mobius said while speaking at the Morningstar Investment Conference.