FII outflow reaches Rs 21,465 crore in 15 days. Do investors need to worry?
Zee Business Managing Editor Anil Singhvi says there is a general lack of enthusiasm in the market. The market has failed to sustain gains after the recent gap-up openings. This suggests that FIIs are ready to sell at the higher levels, he points out in Editors Take.
As foreign institutional investors continue to take out money from Indian shares, Dalal Street is abuzz with talk whether they will switch to buying in a big way anytime soon. As of Wednesday, FIIs have net sold Indian shares worth Rs 21,465 crore in 15 straight sessions -- their longest and heaviest selling spree since June 2022, according to provisional exchange data. Domestic institutional investors, however, have brought some cheer to the market, making net purchases to the tune of Rs 19,306.7 crore in the 15-day period.
This is in stark contrast to persistent buying by FIIs in 2021 that took the benchmark indices to a chain of record highs in a near one-way rally that lasted 18-odd months.
Editor's Take: Zee Business Managing Editor Anil Singhvi's view
Concerns remain among investors about foreign fund outflows, said Zee Business Managing Editor Anil Singhvi. "FIIs are probably selling due to redemption pressure or their view about the markets from a longer-term perspective, though there is nothing wrong on the domestic and global fronts," he said in Editor's Take.
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