FPIs have so far sold shares worth ₹67,308 crore in the cash market in the month of October, during which they have been net sellers in every single session. The figure is higher than the ₹65,816 crore they sold in the month of March 2020.
| Date | FPI Selling (₹ Crore) |
| October 1 | 5,579 |
| October 3 | 15,243 |
| October 4 | 9,897 |
| October 7 | 8,293 |
| October 8 | 5,730 |
| October 9 | 4,562 |
| October 10 | 4,927 |
| October 11 | 4,162 |
| October 14 | 3,732 |
| October 15 | 1,748 |
| October 16 | 3,435 |
There has been talk of foreign money moving out of the Indian equity markets into Chinese stocks, which have rallied in hopes of a large stimulus but are now volatile as nothing concrete has emerged on that front as of yet.
In an exclusive interaction with CNBC-TV18 on October 3, Emerging Markets expert Adrian Mowat said that Foreign fund managers have been overweight on India and underweight on China, but have been reducing their weightage in India to fund the inflows into China.
Chris Wood of Jefferies, who has also been one of the biggest foreign bulls on the India long-term story, cut his India weightage by one percentage point, and increased his weightage in China.
At its current price, the Nifty 50 trades at 20.7 times its one-year forward earnings, which is higher than its long-term average. In comparison, Chinese Shanghai Composite commands a valuation of 11.8 times, which is about 3% lower-than its 10-year average, according to Bloomberg data.