FIIs continue selling

14 Jul 2008 | 17:16




FIIs continue selling

Foreign
funds on Friday, 11 July 2008, sold shares worth a net Rs 310.30 crore,
compared to their outflow of Rs 345.90 crore on Thursday, 10 July 2008.

The net outflow of Rs 310.30 crore on 11 July 2008 was a result
of gross purchases Rs 2420.10 crore and gross sales Rs 2730.40 crore.
Sensex plunged 456.39 points or 3.28% at 13,469.85 on that day as
spiraling crude oil prices and weak economic data dampened investor
sentiments.

Foreign institutional investors (FIIs) are on a
selling spree in Indian equities since the past few weeks. Their
outflow reached Rs 1668.40 crore in the first few days this month, till
11 July 2008. FIIs had pulled out a massive Rs 10095.80 crore from
equities last month.