Foreign investors withdraw Rs 48,056 crore in October as market selling continues

Foreign Portfolio Investors have withdrawn Rs 48,056 crore from Indian equities during October due to high crude oil prices. Selling eased slightly in a recent week, with some FPIs becoming net buyers for two days. Elevated oil prices and inflation concerns are contributing to deteriorating corporate earnings outlooks affecting investor confidence. Domestic institutional investors have somewhat mitigated the selling pressure on markets in recent weeks.