Foreigners Sell India Shares for the First Week Since April
- Global funds sold $239 million of Indian shares last week
- Traders took profits in some small stocks after rally: Agarwal
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Foreigners turned sellers of Indian shares for the first week in 15, breaking a buying streak that helped push the country’s key stock gauges to all-time highs in July.
Global funds sold $238.8 million of shares last week, marking their first weekly selling since April 21, according to data compiled by Bloomberg. The strategy change coincided with a global equity selloff, triggered after Fitch Ratings’ downgrade of the US sovereign rating spurred rallies in Treasury yields and the dollar.