FIIs sell USD 2.40 bn in equity in June

It seems that in the month of June, Foreign Institutional Investors are keen to offload their investment from Indian equity. In June they have been remained net seller of Rs 10350.60 crore in equity (approximately USD 2.40 billion), which doubled the amount that they sold during the entire month of May '08.
 
Out of 20 trading sessions in June, FIIs remained net buyers in the equity only on June 06, June 17, 2008 and June 24, 2008. Due to this enormous outflow by the FIIs, the Indian equity market is witnessing a heavy sell off. During the month of June, the BSE Sensex has already lost 16% from its previous month closing value.
 
This was the second highest cut by FIIs in the year 2008. In the month on January, they sold equities of Rs 17,226 crore (USD 4 billion).
 
In the year 2008, so far FIIs remained net sellers to the tune of Rs 25,972 crore (USD 6.01 billion). In the year 2007, FIIs remained net buyers to the tune of Rs 70,940 crore (USD 16.18 billion).

Note: On June 30, 2008, INR closed at Rs 43.16/$., so dollar consideration is approximately

Monthwise FIIs trading activities