New Delhi, Feb 24 (TIWN) Foreign institutional investors reduced stakes to the tune of 5-6.7 per cent in the Indian Energy Exchange, IPCA Laboratories, PVR, Strides Pharma Science, and Zee Entertainment shares quarter-on-quarter during Q3FY22, exchange data showed.

The Indian equity segment has been witnessing a consistent sell-off by the FIIs recently.

As per reports, FIIs sold over $7 billion worth of equities so far in 2022, and over $11 billion since October 2021.

Further, FIIs reduced 4.1 per cent stake in Mahanagar Gas, 3.9 per cent in Axis Bank, and 3.8 per cent in Indusind Bank, exchange data revealed.

In SBI Cards and Payments, Hero Motocorp, Grasim Industries, Deepak Nitrite, ICICI Bank, and REC, they reduced stakes by 2-3 per cent.