FIIs extend sales in index futures, turn sellers in cash
Aug 19 2013
Derivatives analysts say the rise in outstanding positions in index futures, coupled with a fall in cash share indexes, indicates the formation of short positions.
FIIs sold 5.63 billion rupees of cash shares on Friday, when the Nifty slumped 4 percent, ending a three-day buying streak, exchange data showed.
Nifty futures represent about 85 percent of the total outstanding positions and the banking sub-index represents about 12 percent of index futures contracts, NSE data shows.
The Nifty falls 1.3 percent after marking its lowest intraday level in 11 months, extending Friday's 4 percent slump as a record low rupee weighs.