Financial Daily from THE HINDU group of publications
Sunday, May 28, 2006
Financial Daily from THE HINDU group of publications Sunday, May 28, 2006 |
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Investment World
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Stock Markets Markets - Foreign Institutional Investors K.S. Badri Narayanan
Foreign institutional investors, who were net sellers in the cash segment, however, remained net buyers in the F&O segment last week. However, what is significant is their open interest positions has been on the decline. Their open positions on stock futures stand at 3,38,728 contracts (Rs 11,737 crore) against May 11 figure of 6,26,026 contracts (Rs 27,046 crore). On index futures, their positions stand reduced to 2,47,748 contracts (2,81,184 contracts). Despite reduced open positions, FIIs now command about 43.80 per cent of the cumulative total gross market position. This suggests that the recent volatility seemed to have stumped retail investors and other participants, who have not carried over their positions. Rolling over of open positions from May to June series is also well below historical average levels; its about 50 per cent. Nifty witnessed a rollover of around 66 per cent while the rollover in index heavyweights was abysmally low. The Nifty spot is now trailing the Nifty futures by whopping 65 points (it was around 85 points during intra-week).
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