FIIs snap five-day selling streak in Indian shares
Feb 07 2014 , Mumbai
Analysts say with Nifty taking support at 200 day moving average, any follow up buying by foreign institutional investors (FIIs) will help reverse the short-term trend which had turned down.
The Nifty took support at its 200 day moving average for a third consecutive day on Thursday.
"The recent bout of FII selling is more related to global factors of tapering and China slowdown, not due to India issues," said Premal Madhavji, head of equities at Espirito Santo Securities
Most likely outflow are those of short-term ETF money, not long only selling, Madhavji added.