FIIs cash, F&O sales at over Rs 1,700 crore on Thursday
When the benchmark Sensex touched the 8,000-mark in September, there were fears that FIIs, the prime drivers of the bull run, would slow down their purchases in the near-term. The fears have come true and the mood on the Indian bourses is anything but upbeat.
FIIs turned net sellers on Thursday in the cash market at Rs 568.50 crore, after being sellers in the derivatives segment at Rs 1,173.35 crore. FIIs have been net sellers in the current month at Rs 211.20 crore. Cumulative FII positions as percentage of total gross market position in the derivatives segment has been around 33%.
On Friday, the Sensex of the Bombay Stock Exchange (BSE) Ltd lost 37.14 points to close at 8,491.56 - it last closed below the 8,500-mark on September 26. The index has now lost nearly 310 points since Wednesday.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) closed at 2,573.75, shedding 5.40 points.
"The ferocity of Wednesday's fall supported by actual numbers of large-scale shorting of Nifty futures by FIIs, accompanied by delivery-based selling in the cash market indicates across the board profit-taking", said Arun Kejriwal, director, KRIS.
According to a dealer with a domestic brokerage, "Reports of a hike in the US interest rates have led to many FIIs booking profits at higher levels.
However, interestingly, the number of big deals involving domestic FIs have also diminished in the past couple of days. Previously, they used to act as stabilising agents." Domestic MFs, on the other hand, were also net buyers in equities worth only Rs 37.66 crore in October.
The overseas markets also dampened the mood as most of the major indices, US and Asian, lost ground on fears of slowdown in the global economies. The Nikkei 225 lost 132 points on Friday after falling 331 points on the previous day.
On BSE, most of the sectoral indices also closed in the red except BSE FMCG and BSE Healthcare that gained marginally to close in the black. The turnover on BSE and NSE was lower at Rs 3,606.49 crore and Rs 6,706.78 crore, respectively.
FIIs turned net sellers on Thursday in the cash market at Rs 568.50 crore, after being sellers in the derivatives segment at Rs 1,173.35 crore. FIIs have been net sellers in the current month at Rs 211.20 crore. Cumulative FII positions as percentage of total gross market position in the derivatives segment has been around 33%.
On Friday, the Sensex of the Bombay Stock Exchange (BSE) Ltd lost 37.14 points to close at 8,491.56 - it last closed below the 8,500-mark on September 26. The index has now lost nearly 310 points since Wednesday.
The broader S&P CNX Nifty of the National Stock Exchange (NSE) closed at 2,573.75, shedding 5.40 points.
"The ferocity of Wednesday's fall supported by actual numbers of large-scale shorting of Nifty futures by FIIs, accompanied by delivery-based selling in the cash market indicates across the board profit-taking", said Arun Kejriwal, director, KRIS.
According to a dealer with a domestic brokerage, "Reports of a hike in the US interest rates have led to many FIIs booking profits at higher levels.
However, interestingly, the number of big deals involving domestic FIs have also diminished in the past couple of days. Previously, they used to act as stabilising agents." Domestic MFs, on the other hand, were also net buyers in equities worth only Rs 37.66 crore in October.
The overseas markets also dampened the mood as most of the major indices, US and Asian, lost ground on fears of slowdown in the global economies. The Nikkei 225 lost 132 points on Friday after falling 331 points on the previous day.
On BSE, most of the sectoral indices also closed in the red except BSE FMCG and BSE Healthcare that gained marginally to close in the black. The turnover on BSE and NSE was lower at Rs 3,606.49 crore and Rs 6,706.78 crore, respectively.
posted by Sensex-Blog Admin at 1:18 AM
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