Foreign Institutional Investors (FIIs) have sold shares worth Rs 17,000 crores in the Indian markets in the month of May so far. They have net invested in excess of Rs 94,000 crores during Jan to April, 2015.
While analysts are attributing the sell-off in the markets to Minimum Alternate Tax, many analysts are saying that this has largely to do with the giant sized IPOs in the Chinese markets. FIIs may have sold largely to subscribe to these Chinese IPOs.
Also, they have made reasonable profits in the last few months and they may have used the record gains on the Sensex to book profits.
The selling may have tapered as for the last few days we do not see too much of aggressive selling. However, analysts warn that if the reform process is not initiated in the next few months we may see renewed selling from FIIs.
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