Amid concerns over the timing of the Fed rate cut, foreign institutional investors (FIIs) pulled Rs. 14,790 crore and chose to increase exposure to defensives like healthcare, FMCG and consumer services.
In the previous fortnight Rs. 11,646 crore against total purchases, foreigners during August 1-15 bought Rs. 18,823 crore net sales.
Apart from financials, FIIs were also bearish in metals, services, construction and auto stocks. On the other hand, foreign dollars loved the safety net of healthcare (Rs 3,462 crore purchases), consumer services (Rs 2,196 crore), FMCG (Rs 1,785 crore) and power (Rs 1,169 crore).