FIIs, mutual funds net buyers last week

Our Markets Bureau

Mumbai, Dec 9: Foreign Institutional Investors (FIIs) were aggressive buyers in the equity market last week, as against being net sellers last week, while mutual funds (MFs) also turned net buyers during the week, a sharp reversal from their earlier stand. MFs were net sellers for the last 10 weeks prior to last week.

FIIs bought net equity worth Rs 389 crore till Thursday, with gross purchases amounting to Rs 1,108.5 crore and sales worth Rs 719.5 crore, while domestic institutions were net buyers of equity worth Rs 19.99 crore, with gross purchases amounting to Rs 308.92 crore and sales worth Rs 288.93 crore.

Following the reversal of trend by FIIs and MFs, the BSE 30 Sensex rose 148.81 points, or 4.50 per cent to 3436.37 points, closing in positive territory four times in last week’s five trading sessions. In November, FIIs were net buyers of equity worth Rs 150.6 crore, with gross purchases amounting to Rs 3,509 crore and sales worth Rs 3,358.5 crore, while MFs were net sellers of equity worth Rs 343.21 crore in the month of November.

However, dealers expect FIIs to slow down their upbeat buying mood during the current week as most fund managers would not like to keep their positions open ahead before the year end.

In the debt market, FIIs did not have any role to play, but in contrast, MFs continued to be active buyers. MFs were net buyers in debt instruments to the tune of Rs 250.94 crore, with gross purchases aggregating Rs 658.61 crore and sales worth Rs 407.67 crore in the first four days of the previous week. Net purchases of MFs in the debt market for the month of November stood at Rs 1,644.20 crore, while that of FIIs aggregated Rs 114.50 crore.