FIIs pull out Rs 1,700 cr from Indian markets

Foreign institutional investors (FIIs) on Friday pulled out a net Rs 29 crore from the Indian stock markets, taking their total outflow during the week to nearly Rs 1,700 crore. In today's trade, FIIs were gross purchasers of shares worth Rs 1,848.44 crore, while they sold equities valued at Rs 1,877.52 crore resulting in a net sell of Rs 29.08 crore, according to the provisional data available with the Bombay Stock Exchange. During the week, the overseas investors have pulled out nearly Rs 1,700 crore from the Indian stock markets, as per the latest data available with the market regulator Securities and Exchange Board of India (SEBI). However, domestic institutional investors continued their investment in the stocks of Indian companies and in today's trade pumped in a net Rs 413.20 crore. Besides, proprietors and non-resident Indians (NRIs) were also enthusiastic about the equity market and purchased shares worth Rs 89.65 crore and Rs 0.10 crore respectively, the BSE data shows. Meanwhile, brokers, on behalf of their clients, followed FIIs trend and sold shares worth Rs 182.47 crore. The BSE's benchmark index Sensex, composed of 30 bluechip stocks, today gained 256 points or 1.8 per cent to close at 14,521.89 points.