selling spree: FIIs withdraw Rs 40,000 crore in 9-week-long non-stop selling. U-turn ahead
Historically, it has been observed that whenever FIIs have net withdrawn for 5 or more consecutive weeks, the Indian markets tend to fall. Since 2000, there have been 12 instances where FIIs have pulled out money for 5 or more successive weeks. Of these, the Nifty50 index has fallen 9 times, with an average loss of 9.23%.
Source: indiatimes.com