Most hated stocks? FII selling in financials cross Rs 70,000 crore in 2024

Foreign institutional investors (FIIs) are dumping Indian financial stocks, pulling out a record Rs 70,963 crore in 2024. This selloff, attributed to factors like a strong dollar and high US bond yields, has impacted financial stock performance, with the Nifty Bank index trailing the broader market. However, analysts believe this trend reflects short-term adjustments rather than fundamental sector weaknesses.