Foreign Institutional Investors have pulled out over 5,307 crore from the stock market in the last six days, amid the Bombay Stock Exchange's benchmark index Sensex's continuous downward journey during the period.
According to the provisional data available on the SEBI website, FII today made a net sale of equities worth Rs 1,356 crore, for the third consecutive trading day today.
Analysts believe the concerns in the global markets are behind the FII selling spree of equities in Indian market.
The Sensex has lost 3,222.1 points in last six trading sessions, while FIIs have invested Rs 513.90 crore in three instances and pulled out Rs 5,821.70 crore in the other three days, resulting in a net sale of Rs 5,307.80 crore.
FIIs had sold shares worth over Rs 2,186 crore on January 18 along with the Sensex dropping 687 points on Friday last week.
The 30-share index Sensex today witnessed a fall of 1,400 points, tumbling below the 18,000-point to close at 17,605.35. The fall for the sixth straight day today was triggered by concerns in the global investor community about a recession in US, the world's largest economy.
Besides, domestic institutional investors were net investors in shares worth Rs 695.56 crore today, provisional data available on the BSE show.
Among other categories, non-resident Indian entities invested in shares worth Rs 4.78 crore and proprietors sold equities worth Rs 534.16 crore. Brokers, however, invested in shares worth Rs 421.39 crore for their clients or retail investors.
There were no gainers in the Sensex, the BSE 100. The BSE 200 had only two gainers and the BSE 500 had five. Every other scrip in these indices was in the red, with Essar Oil leading the losers’ list by dropping more than 31 per cent.
The BSE Small Cap index showed four gainers with one company, Diamon Cable, actually showing a more than 5 per cent gain. The BSE Mid Cap index had just two gainers, both among the four gainers in the BSE 500.
Some of the darlings of the markets were the biggest losers today. Reliance Industries was down more than 9 per cent and Reliance Communications was down by more than 12 per cent. Ispat Industries fell by more than 27 per cent.
The BSE sectoral indices also fell, with the IT index falling the least at 5.73 per cent and the realty index tanking by more than 12 per cent. The BSE Metal index did even worse, dropping by more than 13 per cent.
The Sensex ended the day at 17,605.35, a fall of 1,408.35 points or 7.41 per cent.