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FIIs’ 15-day selling onslaught brings down Bankex by 24%

This article was posted on Mar 9, 2009 and is filed under Press Releases

The global financial crisis has taken its toll on the Indian economy and the equity markets. Foreign institutional investors (FIIs) have sold in the Indian markets — during the previous 15 consecutive trading sessions, FIIs remained net sellers, and sold to the tune of of Rs 5,238 crore — and the impact is: stocks took a beating. Here is a list of FII selling and buying in the last 15 days (February 16 to March 6):

Date

Gross Purchase

Gross Sales

Net

06-Mar-09

1814.70

1816.20

-1.50

05-Mar-09

1495.20

2104.20

-609.00

04-Mar-09

936.90

1391.10

-454.20

03-Mar-09

651.10

1297.40

-646.30

02-Mar-09

831.50

1309.40

-477.90

27-Feb-09

1840.90

2111.20

-270.30

26-Feb-09

1353.60

1592.30

-238.70

25-Feb-09

811.30

1264.50

-453.20

24-Feb-09

725.20

1117.10

-391.90

20-Feb-09

967.50

1139.80

-172.30

19-Feb-09

941.30

1261.40

-320.10

18-Feb-09

958.90

1392.60

-433.70

17-Feb-09

1132.60

1618.80

-486.20

16-Feb-09

685.70

969.10

-283.40

Total

15146.40

20385.10

-5238.70

Among sectoral indices in the same period, the BSE Bankex was the worst hit losing over 24%. Realty, Capital Goods, Metal, FMCG and Oil & Gas indices also slipped between 9% and 14%. However, the Auto Index stood out: it gave a positive return of 1%.

Sector-wise performance of Sensex stocks from Feb 16 to Mar 06 ‘09

Bank – ICICI Bank down 34%, SBI down 17%.

Realty – DLF down 7%.

Capital Goods – L&T down 13%, BHEL down 7%.

Metal – Tata Steel down 15%.

FMCG – HUL down 13%, ITC 9%.

Oil & Gas – RIL down12%, ONGC down 2%.

Auto – Maruti up 5%, Tata Motors and M&M up 1% each.

Top losers

Among the BSE 100 stocks for same period, Aban Offshore was the top loser; it was down by 47% followed by ICICI Bank, Ranbaxy Laboratories, Axis Bank, Tata Chemicals, Reliance Capital and Welspun Gujarat Stahl Roh, which slipped between 27% and 34%.

Gainers

A few stocks, however, held their own even in the freefall that the market has witness recently. These include Cipla, Century Textiles and Industries, Bajaj Auto, Maruti Suzuki, Grasim Industries and Nalco.

source: Moneycontrol

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