New Delhi, July 17 -- Overseas investors have raised their sell positions on Nifty and Bank Nifty index futures to a four-month high, reflecting caution as global tariff tensions persist and earnings disappoint back home, according to analysts.

Foreign portfolio investors' (FPI) net shorts on Nifty and Bank Nifty futures stood at 121,820 contracts on Tuesday, the highest since 128,390 contracts on 19 March, according to analytics firm IndiaCharts.

These short positions are essentially hedges against falling markets, which reduces the value of their equity assets. The total FPI equity assets stood at Rs.74.18 trillion as of 30 June against mutual funds' equity-oriented schemes' assets worth Rs.32.69 trillion, according to NSDL and AMFI d...