FIIs had sold off financial services stocks worth $1.87 billion between February 1 and 15. (File Photo) Geopolitical tensions and lingering uncertainty over a possible peace agreement between the US and Iran muted investor sentiment towards emerging markets, including India, even as crude oil prices continuing to hover near the $100-a-barrel mark. Foreign portfolio investors (FPIs) sold Indian shares worth around $3.45 billion during the month of May, extending the trend of capital outflows, but the pace of share sales slowed compared to the previous two months. According to National Securities Depository Ltd (NSDL) data, this was much lower than the $6.47 billion and $12.72 billion worth of Indian stocks they had dumped in the previous two months, with most of the challenges caused by the West Asia war already largely factored into the markets by investors. The benchmark Indian stock indices are down 6-8% since February 27, including an around 2-3% fall in May.…