Amid FII selloff, India shows resilience

India has shown resilience amid huge selloff by foreign institutional investors (FIIs). Out of the eight occasions since 2008, when FIIs sold more than Rs 3,000 cr in a day, the Sensex has ended firm or marginally higher six times. On Thursday, despite Rs 3,348 cr of selling by foreign investors, Sensex gained over 2%, thanks to domestic institutional buying.

“When the dust settles India is most likely to stand out as an investment opportunity,” said Aashish Somaiyaa, CEO, Motilal Oswal AMC. “We have seen this in the past, and this time, the case for India is even better.”