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 Below the quote on FPI from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

This selling trend is unlikely to continue, going forward, since the main trigger for FII selling, the rising bond yields, has reversed. After peaking at 5% on 19th October the 10-year US bond yield started to decline; during the last two days the decline has been steep, taking the yield down sharply to 4.66% on 3rd November. The main trigger for this reversal in bond yields is the subtle dovish commentary from the Fed chief Jerome Powell that “ despite elevated inflation, inflationary expectations remain well anchored.” The market has interpreted this statement as the end of the rate hiking cycle. That’s why yields have corrected sharply.
FII selling is likely to be subdued, going forward. They may even turn buyers, not to miss the rally in the Indian market. Frontline banking, automobiles, capital goods, and mid-caps in IT and real estate  are poised to do well."

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