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MFs bigger buyers, not FIIs

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Our Bureau

Mumbai, April 20

Foreign institutional investors are no longer the big buyers on the Indian bourses. They have been net sellers for seven trading sessions this month, and their scorecard for April 2006 currently stands at a negative Rs 1,796.9 crore.

Domestic buyers, led by mutual fund houses, are the new leaders in the market. On the back of record collections through new fund offers, mutual funds have been big buyers of equities. So far, this month they have netted purchases of Rs 1,364.99 crore.

When the Sensex moved from 10,000 to 12,000, FIIs were net buyers of equities worth Rs 10,366.2 crore. Mutual funds, on the other hand, bought roughly a fifth of that at Rs 2,470.15 crore.

However, the run between 11,000 and 12,000 has been mostly fuelled by mutual funds. FIIs bought a total of Rs 397.7 crore and mutual funds beat that by over Rs 2,700 crore at Rs 3,160.04.

Related Stories:
Outpacing the market
Sensex drops 118 points as FIIs press sell button

(This article was published in the Business Line print edition dated April 21, 2006)
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