Street Signs: Record FPI sell-off, Nifty nears resistance zone, and more

After rebounding 2.7 per cent last week, the Nifty ended at 15,699 - close to its resistance zone of 15,700-15,750

FPI sell-off highest since March 2020

Foreign portfolio investor (FPIs) sell-off so far in June has been the highest since March 2020 — a month that saw peak pandemic-induced sell-off. According to the National Securities Depository data, FPI outflows this month are around Rs 46,000 crore. In March 2020, they had yanked out a record Rs 61,973 crore from the equity market. With only four sessions to go this month, it is unlikely that the FPI selling tally will breach March 2020’s. Also, in recent trading sessions, FPI selling has moderated on optimism that a fall in commodity prices could take