BENGALURU, Dec 29 (Reuters) - Foreign investors' selloff in Indian equities was the biggest on record in 2022, dragging the benchmark indexes to their smallest annual gain in four years, but analysts expect purchases by cross-border investors to rebound next year.
Foreign portfolio investors (FPIs) sold 1,219.08 billion rupees ($14.73 billion) worth of Indian equities in 2022, till Dec. 29, the biggest selloff in Indian shares in a year since 1993, when data became available.
Reuters Graphics Reuters GraphicsThe second-worst FPI selloff was in 2008 at 529.87 billion rupees ($6.40 billion), which triggered a 51.79% fall on the Nifty 50 (.NSEI).
Foreign funds purchased around 958.78 billion rupees worth of stocks in the second half of 2022, after being net sellers of shares worth 2,173.58 billion rupees in the first half.
Reuters GraphicsDOMESTIC INVESTORS WEIGH INMeanwhile, domestic institutional investors net bought equities worth 2,734.60 billion rupees in 2022, their best year since data became available in 2008, according to National Stock Exchange.