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SEBI Registration (Research Analyst) : INH000000743
November 27, 2015
FPIs sell for 11 sessions straight
In the longest selling streak by overseas funds in more than six months, foreign portfolio investors (FPIs) have offloaded equities worth $855 million in the last 11 sessions, reports Yoosef KP in Mumbai. Consequently, the Indian currency has been under pressure and slipped to its lowest level in two months — 66.6675 to the dollar — on Thursday before closing at 66.56. The currency has dropped 2% in November, the worst performance in Asia even as foreign holdings of rupee-denominated bonds have fallen by $558 million, the most since May, data compiled by Bloomberg shows.
On Thursday, foreign funds sold stocks worth $60 million in the cash segment on Thursday, provisional data from stock exchanges showed. In the last one month, the Sensex has shed 5.5% by wiping out Rs 2.5 lakh crore of investors wealth, Bloomberg data showed.