Foreign Funds have been net selling in Indian Equities even as domestic institutions have been buyers. FIIs net sold in Indian equities in the cash market for the 6th straight day on Tuesday with sales of Rs 1247 crores. Domestic institutions on the other hand purchased in the cash market to the tune of Rs 534 crores.
Reports suggested that LIC was buying aggressively in the market and this is something that the institution does on every sharp decline in the market.
The trend may continue as FIIs continue to book profits in the market on account of year-end considerations. Dealers say that domestic institutions may continue to buy. FIIs may return to the Indian markets when things turn more calm. There maybe some more buying that they could do on fresh allocations towards early next year.
Most analysts see some recovery in stocks from early next year until the Union Budget to be unveiled in Feb 2015.
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