FIIs also on buying spree after blast

NEW DELHI: It is not only the domestic investors who were on a buying spree in the stock markets on Wednesday — the day after the serial train bomb blasts in Mumbai — foreign institutional investors (FIIs) were also not left behind.

On Wednesday, the FIIs’ net buying position in the equity market was Rs 375 crore. Interestingly, in the three trading sessions, just prior to the serial blasts, they were the net sellers in the equity market.

On Friday, Monday and Tuesday, FIIs were net sellers by Rs 436 crore, Rs 47 crore and Rs 134 crore respectively. The blasts took place after the market was closed on Tuesday.

Domestic mutual funds were net buyers by Rs 132 crore on Wednesday. However, in July so far, they are net sellers by Rs 685 crore. Before Wednesday in July, local mutual funds were net buyers on July 10 only. Otherwise, they were net sellers on every other day in July.

The 30-share sensex went up by 315 points to close at 10,930 on Wednesday. This was the largest gain made by the sensex in July so far.

A senior broker said Infosys Technologies result has provided a big boost to the sentiments in the market. This has created a huge rally which was spread to the other sectors also.

He said FIIs were buying not only in the technologies counters but also making purchases in the realty sector. He said one thing was clear that bomb blasts had no impact on the market sentiments — among the domestic as well as the foreign institutional investors.

However, the sensex fell on Thursday by 72 points to close at 10,858. The banker felt that it was mainly on account of profit-taking and purely a business decision.