FIIs in selling mode

Outflow of Rs 351.40 crore on 6 July 2009

Foreign institutional investors (FIIs) sold shares worth a net Rs 351.40 crore on Monday, 6 July 2009, as against an inflow of Rs 568.40 crore on Friday, 3 July 2009.

FII outflow of Rs 351.40 crore on 6 July 2009 was a result of gross purchases Rs 3189.50 crore and gross sales Rs 3540.80 crore. The BSE Sensex tanked 869.65 points or 5.83% to 14,043.40 on that day. The market had tumbled that day after Finance Minister Pranab Mukherjee presented an expansionary budget with a major spending thrust on areas such as farm and rural development, defense and infrastructure, setting a higher fiscal deficit target of 6.8% of GDP for the financial year 2009-2010.

FII inflow in July 2009 totaled Rs 782.60 crore (till 6 July 2009). FII inflow in calendar year 2009 totaled Rs 25,326.80 crore (till 6 July 2009).

There are a total of 1677 foreign funds registered with the Securities & Exchange Board of India (Sebi).