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FIIs just sucked out Rs 26,000 crore from banks and financial stocks. More pain on the way?
Foreign investors pulled out Rs 26,139 crore from Indian bank stocks in October. This was part of a larger withdrawal from Indian markets. FIIs also sold oil and gas, FMCG, and auto stocks. Analysts cite several factors, including US growth and sluggish Indian corporate earnings. However, domestic investors are showing interest in the financial sector.
