FIIs dumped Rs 17,000-crore IT stocks in February amid AI disruption fears: Report
Foreign institutional investors (FIIs) have offloaded roughly Rs 17,000 crore worth of Indian IT stocks in February amid growing concerns over artificial intelligence’s potential to disrupt the industry, as per the data from the National Securities Depository Limited (NSDL).
The foreign investors sharply decreased their shares in Indian IT firms throughout the February, with selling almost Rs 11,000 crore worth of IT shares in the first half of the month, the data showed, adding that there were further outflows of around Rs 5,993 crore as the selling continued in the second half. This came after FPI sold Rs 1,835 crore worth of IT stocks in January, the NSDL data added.
