FPIs jettison FMCG and auto shares during March voyage, shows data

FMCG sells short on hope; auto stocks rev up for profit pullback

Foreign portfolio investors (FPIs) were sellers of fast-moving consumer goods (FMCG), automotive (auto), and financial stocks during the second half of March.

FMCG stocks saw selling worth Rs 4,939 crore, followed by auto (Rs 2,085 crore), financial services (Rs 1,900 crore), and consumer durables (Rs 1,175 crore), according to data collated by PRIME Infobase.

FPIs also sold oil and gas stocks worth roughly Rs 1,169 crore.

Experts said that the selling in FMCG stocks was due to a pessimistic outlook, while the selling in auto stocks was attributed to profit-taking.

“There is concern that a harsh summer will negatively impact