FIIs sell $3.2-billion worth equities in Jan alone
February 6th, 2008
Last month in January FIIs were Sellers to the tune of $ 3 billion, whereas in the year 2007 they had net investments of $ 17.23 billion. Majority of the selling happened during the recent market crash between 16th Jan to 24th Jan, they sold $ 3.65 billion worth of shares. February seems to be better compared to January, as per SEBI data for 4th feb they were net buyers of $ 944 million.
We feel the major sell-off has already happened and the market has already seen its bottom. The market is likely to remain volatile but unlikely to go below the January low. Investors should buy at every fall but stay patient as the market will remain volatile for few more months.