Overseas funds sold $1.5 billion in August

Overseas funds sold $1.5 billion in August

Sentiment has turned bearish in the Indian equities markets and globally following the downgrade of the US sovereign debt on Aug 6 and indications of another bout of recession in Europe and the US.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), ended Aug 19 at 16,141.67 points, down 11.29 percent or 2,055.53 points from its close on the last trading day of July at 18,197.2 points.

The National Stock Exchange’s benchmark, the S&P CNX Nifty, too lost 636.35 points or 11.6 percent to end the week at 4,845.65 points compared to its close on July 29 at 5,482 points. FIIs had been net buyers in July, pumping in over $1.8 billion in the equities markets, according to data available with the Securities and Exchange Board of India (SEBI).

Foreign funds took out about $225 million in three days of trading in the past week, which saw only four days of trade as Aug 15 was a holiday. Data for Friday was not yet available.

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