Nifty, Sensex within kissing distance of new high
May 27, 2021
Despite FPIs’ record selling in 4 years, indices gaining on local strength
Foreign portfolio investors (FPIs) have been caught on the wrong foot in the stock markets with their record nearly $3 billion selling in May even as India’s benchmark equity indices Nifty and Sensex nearing their lifetime high. Amidst Covid-19 second wave gloom and the central ruling party BJP’s loss in the West Bengal state elections, FPIs turned out to be relentless sellers during the entire month. But this time the might of domestic players is taking the markets higher.