Foreign Institutional Investors (FII) are in panic and offloading heavily in Indian bourses after the news of downgrade of the US’s credit rating. Investors fearful of another recession in the world’s largest economy.
In the first 12 days of trading overseas investors (FII) offloaded equities worth Rs 5,829 crore in the Indian equity market, as stock markets were rattled by global economic uncertainty.
Foreign institutional investors (FII) have purchased equities worth a gross amount of Rs 22,958.30 crore in first 12 days of August 2011. However, they also sold equities valued at Rs 28,787.70 crore in the same period, translating into net sales of shares worth Rs 5,829.40 crore during the period, according to data available with the Securities and Exchange Board of India (SEBI).
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