FIIs pull out Rs 7,000 crore

In just four trading sessions last week, foreign fund houses sold equities worth Rs 7,043.5 crore, the data with the market regulator Securities and Exchange Board of India (Sebi) said.

After witnessing an outflow worth Rs 1,648.5 crore during the week ended January 22, the selling trend continued in the last week making foreign funds net seller for the first time since February, 2008. During January, overseas investors were gross seller of equities worth Rs 58,630.60 crore, while they bought shares worth Rs 58,130.30 crore, resulting in a net sell of Rs 500.30 crore, as per the Sebi data.

Significantly, in January the secondary market barometer the Bombay Stock Exchange’s Sensex fell by 1,106.85 points to below the psychological level of 17,000. Sensex ended the fist month of 2010 at 16,357.96 points.

However, on the other hand, FIIs were bullish about the Indian debt market and made a net investment of Rs 8,913 crore ($ 1.9 billion) in debt instruments, as per the Sebi data.

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