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Our Bureau

Mumbai, Sept. 19 FIIs, which led the rally in the stock markets on Wednesday, were net buyers to the tune of Rs 2457.6 crore.

The rally was solely led by them, domestic institutions being net sellers at Rs 328 crore and the retail segment net sellers at Rs 586 crore. Even under the proprietary segment, (brokers’ own trade positions) net sales were Rs 61.19 crore.

This has been the trend of investment over the last few days, with FIIs advancing and other investing segments retreating.

FIIs have pumped in over $1 billion in the Indian stock markets so far this month.

Whereas during the US sub-prime loan crisis, they were net sellers for about $2 billion.

The FII window on BSE witnessed a sharp spurt in trading activity.

Eight stocks were traded through this window on Wednesday, with Bharti Airtel witnessing the highest turnover, at Rs 282 crore followed by Tata Steel at Rs 71 crore.

The Fed rate cut has led to a resurgence of FII interest in emerging markets, said brokers.

While Mr Raamdeo Agrawal of Motilal Securities felt that arbitrage opportunities arising from the rate cut would also serve as a catalyst for more FII fund inflows, Mr Andrew Holland of DSP Merrill Lynch did not quite agree.

“I don’t think it is about the arbitrage, it is the Indian economic story that stands out,” he said.

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