Sep 1, 2008

FII selling continues

FII selling continues


Foreign
institutional investors (FIIs) sold shares worth a net Rs 396.30 crore
on Thursday, 14 August 2008, compared to their outflow of Rs 646.30
crore on Wednesday, 13 August 2008.

FII net outflow of Rs
396.30 crore on 14 August 2008 was a result of gross purchases Rs
1834.20 crore and gross sales Rs 2230.50 crore. Sensex plunged 368.94
points or 2.44% to 14,724.18 on that day as a bounce back in crude oil
prices stroked fears of increase in inflationary pressures. A
disappointment due to no decision by the market regulator Securities
& Exchange Board of India (Sebi) on participatory notes (PNs) at
its board meeting yesterday, 13 August 2008, also contributed to the
fall.

Alternate bouts of buying and selling by FIIs has been
witnessed this month. FII inflow totaled Rs 589.80 crore this month,
till 14 August 2008. FIIs had sold shares worth Rs 1836.80 crore in
July 2008, much lower than an outflow of Rs 10095.80 crore in June
2008.

FII outflow in this calendar year totaled Rs 26712.20 so
far (till 14 August 2008), compared to an inflow of a massive Rs
37405.80 crore by the same time last year

There are a total of 1466 foreign funds registered with the market regulator Securities & Exchange Board of India (Sebi).

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