FIIs' selling touches $11 b
Credit Suisse, Goldman Sachs offload shares.
Our Bureau
Mumbai, Oct. 16 The relentless selling of Indian equities by FIIs have added up
to net sales of $11 billion by them so far this year, according to data on the
SEBI Web site.
This week so far, FIIs have accounted for net sales of Rs 2,353.78 crore. And
on Thursday, they were net sellers for Rs 1,160 crore.
Data on bulk deals available on the BSE Web site show that Credit Suisse
Singapore sold shares worth Rs 11.4 crore on Wednesday. They sold 2.48 lakh
shares of Diamond Cables, 42,466 shares of Dynamatic Technologies, 1.56 lakh of
Eicher Motors and 1.67 lakh shares of Nucleus Software Exports.
Write-downs
"Major international banks have been announcing large write-downs. It looks
like as if Credit Suisse, too, is in trouble now, this could be one of the
reasons why they sold quite a lot yesterday," said the head of research at a
brokerage. Reports said the Swiss bank had raised 10 billion Swiss francs in
new capital from a small group of global investors as it had posted a third
quarter loss of 1.3 billion francs.
Goldman Sachs Investments Mauritius sold 25.41 lakh shares of Mount Everest
Mineral Water and 19.57 lakh shares of United Phosphorus on Wednesday. No other
FII featured in the bulk deals list on that day.
On Thursday, only Citigroup Global Markets Mauritius Private appeared on the
bulk deals list on BSE. It sold 8.4 lakh shares of Northgate Technologies at Rs
72.05 a share.
And Fidelity Funds has sold 36 lakh shares of Indiabulls Real Estate at Rs
101.37 a share.
On NSE, Goldman Sachs sold 4.22 lakh shares of Greenply Industries at Rs 75 a
share.
Marketmen are of the view that even though the Government is doing everything
they can to get inflows back into the country, their measures have made little
difference as FIIs are in urgent need of funds.
http://www.thehindubusinessline.com/2008/10/17/stories/2008101752151400.htm
The law of gravity says no fair jumping up without coming back down
--~--~---------~--~----~------------~-------~--~----~
You received this message because you are subscribed to the Google Groups
"Kences1" group.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to [EMAIL PROTECTED]
For more options, visit this group at
http://groups.google.com/group/kences1?hl=en
-~----------~----~----~----~------~----~------~--~---
