In June 2022, a 75-basis-point hike move saw the Nifty decline 4.8%. Foreign investors withdrew ₹50,203 crore, while domestic institutions bought ₹46,599 crore. The following month, another 75-basis-point hike coincided with an 8.7% rally, the strongest in the sample. Foreign investors turned buyers, bringing in ₹4,989 crore, alongside domestic purchases of ₹11,658 crore.
