FPIs sold shares worth $690 million in the healthcare sector in September, marking the highest monthly outflow since June 2019, when they offloaded shares worth $724 million, according to data from NSDL.
The healthcare sector was followed by information technology, where FPIs sold $682 million. Other sectors seeing FPI outflows included fast-moving consumer goods, consumer durables and consumer services, with selloff totaling $474 million, $409 million and $381 million, respectively.
“The Nifty completely erased its morning gains during the day; nevertheless, the short-term trend remains strong. On the daily chart, a large red candle has formed, indicating the possibility of a pullback towards the 25,700 level in the next few days. However, the short-term trend remains intact, with the potential to revisit higher levels around 26,200 in the next 10–15 days. On the higher side, immediate resistance is placed at 26,000, above which the index may move towards 26,200,” Rupak De, Senior Technical Analyst at LKP Securities.
