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BW Businessworld

Heavy Selling By FIIs Sparks Worries

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 Foreign institutional investors (FIIs) provisionally sold Indian shares worth a net Rs 2,074 crore on Thursday, marking their biggest single-day selling in at least a year, according to National Stock Exchange data.
 
Traders worry an end to the US monetary stimulus and a weakening rupee could lead to portfolio outflows, which will delay further rate cuts by the central bank.
 
FIIs have sold cash shares for eight straight sessions, totalling Rs 5,949 crore, as per exchange and regulatory data.
 
FIIs have so far bought Indian shares of Rs 80,312 crore in 2013, on top of 1.28 trillion rupees worth of buying in 2012.
 
FIIs have also been sellers in index futures for 14 out of 15 sessions, totalling Rs 9,917 crore.