FIIs, MFs display opposing approaches in market operations

MUMBAI, JUNE 3. The foreign institutional investors (FIIs) and mutual funds (MFs) showed divergent trend for investment in equities in May with the former being net buyers at Rs. 1,045.6 crores ($223.5 million).

MFs were net sellers in equities at Rs. 478.22 crores in the reporting month.

However, the trend was reversed in debt as FIIs were net sellers at Rs. 369.6 crores ($79 million) while MFs were net buyers at Rs. 1,141.80 crores, according to the data available with the Securities and Exchange Board of India (SEBI).

Foreign funds were net buyers on 16 trading days in equities and net sellers on 14 days in debt. MFs remained net sellers in equities and debt on 19 days and five days respectively.

On May 18, FIIs bought equities worth Rs. 213 crores while offloading to the tune of Rs. 69.5 crores, thus making the highest net purchases in May at Rs. 143.5 crores ($30.7 million). FIIs were also net buyers of Rs. 138.7 crores ($29.6 million) and Rs. 111.5 crores ($23.8 million) on May 7 and May 15 respectively, SEBI data said.

MFs, on the other hand, recorded their highest net sales in equities on May 29 of Rs. 69.09 crores.

FIIs were net sellers on the equity front for only six trading days with the highest being on May 31 at Rs. 112.3 crores ($24 million) followed by Rs. 57.2 crores ($12.2 million) on May 8, SEBI said.

For the trading week ended June 1, FIIs were net sellers in equities and debt at Rs. 33.2 crores ($7.1 million) and Rs. 134.2 crores ($28.7 million) respectively.

On the debt side the, FIIs indulged only in offloading on four days while no transaction was conducted on May 29.

The data available on MFs for the four days beginning May 28 shows that they were net sellers in both, equities and debt at Rs. 187.7 crores and Rs. 25.79 crores respectively.

- PTI

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