``For the FIIs, the sentiment will turn negative in the run-up to the elections,'' he adds. It's no longer a numbers game, it's a question of realignment of parties and ``we have to see in whose favour the scale tilts,'' points out a dealer at an FII. With FII funds drying up in the next few weeks, brokers see the Sensex moving in a narrow range and largely operator driven. Contrary to the general mood in the market, the FIIs have pumped in nearly $ 77 million since the fall of the BJP-led government.

Sanjeev Sanghavi, head of securities, HSBC Securities, does not see any reversal in the FII investment trend. The fact that FIIs have been investing post-government fall suggests that they have factored in the possibility of elections, he points out.