India shares offload

MUMBAI: Foreign investors sold a record amount of Indian shares in August, offloading even more than in the midst of the global financial crisis, as turbulent markets in China led many funds to reduce their holdings in riskier emerging markets.

Foreign institutional investors sold a net INR 168.77 billion in Indian shares in August, more than the previous monthly record of INR 153.47 billion in October 2008, according to data from National Securities Depository Ltd. The sales helped push the Nifty down 6.6 per cent in August, its worst monthly performance since November 2011.