FPIs withdraw Rs 5,479 crore from IT stocks in first half of July

In the first half of July, Information Technology stocks saw significant foreign outflows. Overseas investors sold shares across nine sectors. Fast Moving Consumer Goods and auto sectors also experienced withdrawals. Services and metals sectors witnessed inflows. India benefits from China’s rare earth metals retaliation. Base metal prices are rising. The auto sector may face challenges. FMCG might find buyers.

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