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Our Bureau

Mumbai, Sept. 26 FIIs continued to sell Indian equities this week as well, net sales by them clocking Rs 2,974 crore during this period.

The BSE Sensex has dipped close to seven per cent during this period.

Morgan Stanley, Goldman Sachs and Merrill Lynch seemed to be dominating the bulk deals list on the sell side on both the NSE and BSE — both this week and the previous one.

According to data available on the BSE, Morgan Stanley sold Aftek (11.4 lakh shares), Entertainment Network India (2.88 lakh shares) HTMT (15.6 lakh shares), LIC Housing Financial (12.37 lakh shares), Anant Raj (85.41 lakh shares) and Jai Corp (57.04 lakh shares) over the last two days.

Goldman Sachs has been selling Aptech, Motilal Oswal (9.5 lakh shares), Dhampur Sugar Mills (17.81 lakh shares) and Sintex Industries (7.15 lakh shares) in the last two days on the BSE and NSE.

Merrill Lynch over the last three days sold Pokarna (9.3 lakh shares), Divi Labs (21.6 lakh shares), Emco (18.55 lakh shares), Financial Technologies (3.25 lakh shares), Jindal Steel (9 Lakh shares), Kewal Kiran Clothing (12 lakh shares), Subex (20 lakh shares), and Prakash Industries (59.39 lakh shares).

Deutsche Securities and Credit Suisse have been buying most of the scrips that have been sold by the above-mentioned FIIs. They have bought stocks such as Anant Raj, Phoenix Mills, Aftek, HTMT and LIC Housing Finance.

The others who have bought include Citigroup (they bought one lakh shares of India Infoline) and CLSA Mauritius (bought 3,8 lakh shares of Country Club and 23.17 lakh shares of West Coast Paper Mills) .

In a recent research report on India, Morgan Stanley said: “We believe the combined impact of slowing domestic consumption, higher domestic cost of capital, and reduced capital access from international capital markets will result in further major slowdown in investment cycle over the next 12 months. We expect the aggregate investment to GDP ratio will decline to 32 per cent in fiscal 2010 from 37 per cent in fiscal 2008.”

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