FPIs net sellers after 6 months amid Covid 2.0 SECTIONS Last Updated: May 02, 2021, 11:27 AM IST Share Synopsis The selling by FPIs is a near-term phenomenon and unlikely to pose a big risk as fundamentals of Indian equities continue to remain sound, Binod Modi, head strategy at Reliance Securities, said. Apart from equity, FPIs have offloaded debt securities worth a net of Rs 118 crore last month. NEW DELHI: Snapping their six-month buying spree, foreign investors turned net sellers in April and pulled out Rs 9,659 crore from Indian equities, spooked by the intense second wave of coronavirus and its fallout on the economy. If the fears of COVID-19 increases among foreign investors, we can witness further redemptions, which can result in some more volatility in the market, Harshad Chetanwala, co-founder Mywealthgrowth.com, said.