News Hour: Late FII selling on Wednesday triggers outflow concerns
Foreign funds sold shares worth Rs 368 crore ($67.60 million) on Wednesday, provisional exchange data showed.
Traders are getting jittery after the premium in Nifty futures reduced, coupled with heavy selling in the last 30 minutes of trade on Wednesday, accounting for 35 per cent of total traded volumes, as per Reuters data.
"It seems like even the FIIs especially Exchange Traded Fund flows are now at risk of being pulled out given continued political uncertainty and worries about early elections," said G. Chokkalingam, Executive Director & Chief Investment Officer,CentrumBSE -1.72 % Wealth Management.
Benchmark index BSE and the 50-shareNSE index fell below their 200-day moving average earlier in the day. FIIs continued to be big buyers of Indian stocks in 2013, having bought over $10 billion.