Insurers pull out $4 billion from equities in 2017

They've sold stocks eight months in a row; in contrast FPIs and domestic MFs have invested heavily

Domestic insurance firms sold stocks for the eighth consecutive month in August, taking their year-to-date net sales past the $4-billion mark (over Rs 25,000 crore). This contrasts sharply with the inflows from domestic mutual funds (MFs) and the buying spree by foreign portfolio investors (FPIs), which have net bought Indian stocks this year.

Insurers are one of the largest drivers of Indian stocks, besides foreign institutional players. In the past, insurance firms such as the Life Insurance Corporation of India (LIC), the country's largest insurer, have helped prop up the market against steep falls.

Year to date, India's benchmark Sensex