new Delhi. Foreign Institutional Investors (FIIs) have continued to sell their stake in the Indian equity markets. According to the share transfer data available on the website of National Stock Exchange i.e. NSE, even in February, foreign institutional investors remained net sellers in NSE shares. There was a sharp increase in both the number of transactions as well as the volume of shares.
A total of 270 transactions took place in February, which is 35 percent more than in January. FIIs sold 15.64 lakh shares in February at an average price of Rs 2,210 per share. In January, he sold 11.67 lakh shares at an average price of Rs 1,956 per share.
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NSE shares not listed on any exchange
Brokers dealing in NSE shares say that NSE shares are not listed on any exchange. Deals are done privately and hence prices vary according to the size and requirement of the parties involved. Many transactions are approved by the NSE board with a gap of 3-4 months after the transaction.
A total of 10 deals took place in over 43 lakh shares, in which sellers were NRIs and buyers were local investors. A huge deal of 17 lakh shares was done at the rate of Rs 3,210 per share.
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Nimish Shah, Chief Investment Officer, Waterfield Advisors said, “Indian markets were already trading at a higher premium to other emerging markets. So apart from valuations, interest rate movement also played a key role in selling FIIs. The return of FFIs in emerging markets will largely depend on the volatility in interest rates in the US. We believe in the medium term as rates stabilize and global growth picks up. Only then will the equity allocation by FIIs resume.”
Tags: NSE, Share market
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