๐ FIIs pull back from finance, but experts see a big bank play
Foreign Institutional Investors (FIIs) pulled out โน6,204 crore from the financial sector in the fortnight ending September 15. This sharp selloff comes after the sector saw massive inflows of โน10,494 crore in August. However, two CIOs argue this selling presents a major large-cap opportunity, especially in private banks. They note that banks have strong fundamentals like low NPAs and decent ROA, making them undervalued. A recovery in the banking sector could significantly boost major Indian market indices. ๐ฆ