FIIs snap five-day selling streak in Indian shares

Foreign investors bought 107.5 million rupees worth of Indian shares on Thursday to snap their five-day selling streak totalling $542 million in secondary markets, provisional exchange and regulatory data shows.

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture