FIIs sell in Indian equities for the first time since April 16

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, May 21, 2014, 11:46 [IST]

Foreign Institutional Investors (FIIs) net sold in the Indian cash markets of the equity segment for the first time since April 16, 2014. In fact, since April 16, the net buying by FIIs in Indian equities has fuelled a huge rally in stocks leading to the Sensex and Nifty hitting successive highs.

On May 20, FIIs bought in Indian equities to the tune of Rs 7008, while they sold to the tune of Rs 7112 crores, taking their net sales figure to Rs 104 crores for May 20.

For the month of May FIIs have made a net purchases of Rs 14,537 crores, as against a figure of Rs 9383 crores for the entire month of April 2014. For the month of March they made a staggering net purchases of Rs 20,077.20 crores in the Indian equity markets.

FIIs have been constantly buying into Indian equities in the last few months on the hopes that a new government would push through the development agenda and ensure economic development gathers steam.

The Sensex and the Nifty have been constantly rallying on these hopes with the Sensex hitting a new record in excess of 25,200 points on the day the election results were announced.

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