Shares suffer biggest sales by FIIs in five months

Foreign institutional investors sold Indian cash shares worth 13.34 billion rupees on Monday, marking their biggest single-day sale since August 27 amid turmoil in emerging markets, exchange and regulatory data shows.

Overseas investors have also sold index futures worth 15.09 billion rupees over the last two sessions alongside an increase of 19,941 contracts in outstanding positions, exchange data shows.

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.

Index 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.

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