FIIs step up selling step up

Outflow of Rs 623.20 crore on 10 July 2009

Foreign funds have stepped up selling of Indian stocks. As per data released by the Securities & Exchange Board of India (Sebi), foreign funds dumped shares worth a net Rs 623.20 crore on Friday, 10 July 2009, much higher than Rs 291.60 crore on Thursday, 9 July 2009. A sell-off in index heavyweight Reliance Industries (RIL) triggered a sharp fall on the bourses in the last one hour of trade on 10 July 2009. The BSE 30-share Sensex fell 253.24 points or 1.84% to 13,504.22.

Foreign institutional investors (FIIs) bought shares worth Rs 3441.90 crore in the fist few days of July 2009 (till Thursday, 10 July 2009). The strong inflows this month reflected subscription by foreign funds to qualified institutional placement by Indian firms.

On a cumulative basis, foreign funds bought shares worth Rs 27974.20 crore in calendar 2009, till 9 July 2009.

The net outflow of Rs 623.20 crore on 10 July 2009 was a result of gross purchases Rs 1897.80 crore and gross sales Rs 2520.90 crore.