Foreign institutional investors (FII) have pulled nearly ₹1 lakh crore from Indian stocks in six months, exiting IT, FMCG, auto, and power amid high valuations and global uncertainty, said analyst Mayank Chandel. However, flows into telecom (₹23,065 cr) and financials (₹9,456 cr) show smart money is rotating-not exiting. He advises rebalancing toward quality domestic plays.