bengaluru april 10 reuters  foreign portfolio investors fpis snapped their twomonthlong selling streak to turn buyers of indian equities in march despite offloading shares in the second half of the month according to national securities depository ltd nsdl data fpis offloaded shares worth 464 billion rupees on a net basis between march 1531 but were buyers worth 7935 billion rupees for the month largely due to us boutique investment firm gqg partners 187 billion investment in four adani group companies in early march for the financial year ended march fpis sold equities worth 37632 billion rupees marking two straight years of net sales for the first time ever the sales come after record purchases of 274032 billion rupees in fy2021 the benchmark nifty 50 index nsei rose 032 in march but recorded a dip of 06 from april 2022 to march 2023 fpis offloaded nearly 70 billion rupees each in information technology it and oil and gas stocks and bought services stocks worth over 70 billion rupees in march for fy 2023 the most fpi selling was recorded in it stocks like tata consultancy services ltd tcsns infosys ltd infyns and wipro ltd wiprns – amid concerns in the us banking system indian it firms earn more than 25 of their revenue per exchange filings from the us and european banking financial services and insurance bfsi sector analysts have warned that the current turmoil in the global banking system will weigh on the it stocks the nifty 50 is down nearly 25 in 2023 so far that has made domestic valuations attractive according to brokerages such as jefferies and morgan stanley g chokkalingam founder and head of research at equinomics said it was unlikely the fullyear selling streak would extend to this year rarely have foreign investors been aggressive sellers of indian equities for three years in a row reporting by bharath rajeswaran in bengaluru editing by sohini goswami