Business Daily from THE HINDU group of publications
Wednesday, May 28, 2008
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Business Daily from THE HINDU group of publications Wednesday, May 28, 2008 ePaper | Mobile/PDA Version | Audio |
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Foreign Institutional Investors Markets - Stock Markets Our Bureau
Mumbai, May 27 Foreign institutional investors (FIIs) have been net sellers on Indian bourses since May 20. Including Tuesday’ provisional selling data of Rs 496.61 crore, their total (net) selling stood at Rs 3,594 crore in the cash market. In fact, their heavy selling led to sharp fall in the Indian markets. The BSE Sensex tumbled 5.56 per cent and the NSE’s Nifty by 4.8 per cent. “Globally we are seeing soaring oil and food prices. In India, inflation has been ruling high for the past few weeks. This, coupled with political concerns, has forced FIIs to reduce their exposures. But it is only a matter of time before they make a comeback,” said Mr Arindam Ghosh, Chief Executive Officer, Mirae Asset Global Investment Management (India). In F&O segment tooEven in the futures & options segment, FIIs are unwinding their their positions. According to SEBI data, they were net sellers to the tune of Rs 3803 crore since May 20.. “While they are unwinding their positions in stock futures, they are also hedging to some extent by taking fresh positions in index futures, but it signifies that they are expecting the markets to fall further,” said a derivatives research analyst. “FIIs are selling both in cash and derivative segments and it is a cause of concern”, he added. Big FIIs selling index futures? Market likely to fall in an extended consolidation phase FII outflows – turn in tide? More Stories on : Foreign Institutional Investors | Stock Markets
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