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BW Businessworld

FIIs Snap 32-Day Buying Streak In Shares

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Foreign institutional investors (FIIs) sold shares worth of Rs 598 million on 21 November to snap their 32-day buying streak totalling Rs 238.84 billion, exchange and regulatory data shows.

Waning risk appetite from foreign investors is reviving concerns about India's vulnerability when the Federal Reserve begins to taper its monetary stimulus given the country's dependence on overseas flows to bridge its current account deficit.

Also, they sold index futures worth Rs 11.89 billion on Thursday and stock futures worth Rs 9.19 billion over the previous three sessions.

Some traders also cited heavy basket selling by foreign investors in the Nifty, meaning sales of entire batches of shares by investors over the last two sessions, in which the index fell 3.3 per cent, marking its lowest close in a week.

FIIs have pumped a net $6 billion into cash shares since late August, helping the Sensex hit a record high on 3 November.

(Reuters)


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