The Hindu Business Line : FIIs net sellers at Rs 595 cr on Monday

FIIs were net sellers to the tune of Rs 595 crore on Monday in the equity market, the highest in a single day in 2004, in line with heavy selling by them in various other emerging markets.

According to SEBI data, FIIs on Monday bought shares worth Rs 633 crore and sold Rs 1,228.20 crore, a net sales of Rs 595.20 crore.

The previous highest net selling by them in a single day this year was on January 30 when they were net seller to the tune of Rs 436.2 crore.

According to brokers, Monday's net sales figures by FIIs are one of the highest in the recent past. "It's one of highest net sales I have seen for many years by FIIs," said an official with a foreign broking firm.

In the last five trading sessions, FIIs are net sellers in the equity market. Since the beginning of this month, FIIs were net sellers to the tune of Rs 820.10 crore in equities.

Mr Ajay Bhatia, Senior Vice President, Enam Securities, said: "Emerging markets world over have been falling due to the cross trades and India cannot be isolated from the world markets. Uncertainty in the local market has also been one of the reasons for FIIs to sell in Indian markets."

Several brokers said inflows by FIIs in India were in line with the other emerging markets and now they are selling in all the major emerging markets including India.

Even on the derivative segment, FIIs turned net sellers to the tune of Rs 600.39 crore on Monday, the highest figure so far this month. While they bought Rs 69 crore worth contracts, the sales figure was much higher at Rs 669.39 crore.

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