Foreign investors pull record Rs 94,000 crore from Indian stocks in October

In October, foreign portfolio investors (FPIs) sold a record Rs 94,000 crore ($11.2 billion) in Indian stocks, marking the largest monthly outflow in history. This follows a strong buying trend in September, when FPIs purchased Rs 57,724 crore. The sell-off has caused benchmark indices to drop by 8 percent from recent highs. Analysts attribute this to high valuations in India and increased interest in Chinese stocks, which have become more appealing due to recent economic stimulus measures. In the debt market, FPIs withdrew Rs 4,406 crore but invested Rs 100 crore through the Voluntary Retention Route. Overall, foreign investment in Indian debt has reached Rs 1.06 lakh crore this year.