FIIs continue to sell equity as they sold about Rs. 3,300 cr. in June in equity. However, they have been net purchasers of debt with about Rs. 1,700 cr. worth of purchased positions.
While they have sold equity positions in May and June, it’s still a big positive for the whole year. And in Debt too:
Foreign investments might have slowed but it looks like domestic investments have come to meet them more than half way. In the near term there are two fears that will keep foreign money tentative:
- The impact of Greece (the eventual default impact will be known only next week)
- The eventual US Rate Hike
Meanwhile Indian markets are running up like there’s no tomorrow! We should expect extreme volatility…and not in one direction, so this is pretty much par for the course.