Mumbai: Foreign institutional investors (FIIs) sold off close to $259 million (Dh950.53 million) on Indian equities markets in the week that ended on Friday amid volatile trading that saw benchmark indices close on a flat note.
According to data available with the Securities and Exchange Board of India (SEBI), FIIs offloaded stocks worth $258.87 million during the week.
For the month, however, FII inflows were positive at $402.28 million. It was a reasonable show, compared to the $2.39 billion they sold in August.
Dismal numbers
During the week, benchmark indices only nudged up as trade remained highly volatile amid dismal industrial output numbers and the 12th successive rate hike by the Reserve Bank of India.
Industrial output growth slumped to 3.3 per cent in July, the lowest in 21 months. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the week at 16,933.83, up 0.40 per cent or 66.66 points from its previous week's close at 16,866.97 points.
FII inflows have been tardy in 2011. The net inflows until the last week of Aug-ust from overseas institutional buyers had turned negative.
