After buying nearly $6.85 billion worth of Indian equities between mid-June and late-August, foreign portfolio investors (FPI) have turned sellers again, offloading nearly $1.6 billion of local stock in five of the past six trading sessions. The reversal comes after crude oil prices spiked nearly a third from recent lows and global bond yields hardened close to levels last seen during the peak of the subprime crisis, diminishing global appetite for growth assets in emerging markets vulnerable to energy import risks.