Mumbai, Nov 19: Foreign Institutional investors (FIIs) turned bears on the Indian capital markets and unwound their positions by Rs 157 crore during the week ended November 16 after remaining positive during the previous two weeks. Mutual fund investments in the secondary market also remained negative at Rs 80.4 crore during the same period.The FIIs remained net sellers in the equity and debt markets at Rs 111.5 crore and Rs 45.5 crore respectively. With regard to mutual funds, the net investments in debt market was a meagre Rs 24.1 crore, while in the equity market the negative trend persisted with they posting a net sales of Rs 104.5 crore.
The total investment by FIIs during the year 2000 till November 16 was at Rs 7,214 crore. The mutual fund sector, on the other hand, made net purchases of Rs 3,413 crore in the debt market as against net sales of Rs 556 crore in the equity market.
The last fortnight witnessed many of the FII reshuffling their portfolios replacing some new economy stocks with that of old economy ones mostly from refinery, pharmaceutical, cement and banking sectors. The cabinet decision to reduce centre's stake in banks to 33 per cent resulted to a spurt in banking scrips.
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