Friday, August 01, 2014
FIIs Were Net Sellers Today Also
The DIIs on the other hand were net buyers to the tune of Rs.1074 crores. The FIIs have been continuously selling, since the last few days. According to the Economic Times, 1 August, 2014, overseas investors sold shares worth Rs.1,654 crore ($273.2 million) on Thursday. It was their biggest single-day selling since July 2, provisional exchange data showed.
Also, Thursday marked a second consecutive day of net sales by foreign investors, totalling $319 million. Thursday's outflows included sales by Goldman Sachs Singapore, Deutsche Securities Mauritius and Morgan Stanley Singapore in certain stocks, NSE's bulk-deal data showed.
The markets have been rising-up on the excessive expectation of "Achche din" (good days) in the shortest possible time, post NDA took to power in Delhi. However, till now, in absence of any major development in the Indian economy we are witness the tremors of "Reverse-Modi-Tsunami". This will continue till excessive froth is removed from the system and strong hands give support.