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Ravi Ranjan Prasad

Mumbai, April 16 Thursday’s trading in the stock markets saw one of the highest single day net sale of equities by the domestic funds, marking a departure from the recent buying by them witnessed over the past few months.

Domestic institutional investors — including mutual funds, insurance companies and banks — were net sellers of equities for Rs 1,124 crore according to the provisional data put up by the stock exchanges.

In the recent past, it was the DIIs who had been providing some buying support in the market as the FIIs were pulling out. “They (DIIs) were waiting for an opportunity for a long time; and since it was a strong run up over the last few trading sessions, there was profit booking by them today,” said Ms Anita Gandhi, Head of Institutional Business, Arihant Capital Markets Ltd.

Among the domestic institutions, Aviva Life Insurance Company India sold shares of Alok Industries and Alok Textile according to the bulk deal reports of the BSE and NSE.

However, FIIs were net buyers at Rs 479 crore and retail investors by Rs 269.71 crore.

Volumes soared on the bourses

With the benchmark indices of BSE and NSE touching a six-month high on Wednesday, there has been greater participation by both institutional and retail investors in the market.

NSE’s turnover alone was nearly Rs 1 lakh crore (Rs 99,600 crore). NSE’s F&O turnover was sharply up at Rs 78,509.17 crore as compared with Rs 72,224 crore in the previous trading session.

However, BSE’s turnover dipped to Rs 7,157 crore, against Rs 7,701 crore during the previous session.

More Stories on : Stock Markets | Foreign Institutional Investors

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