FIIs turn net-sellers for first time in a month

Overseas investors sold equities in the net worth Rs 104 cr putting an end to a 19-day buying streak

Foreign institutional investors (FIIs) turned net-sellers for the first time in over a month on Tuesday on profit-booking. Overseas investors sold equities in the net worth Rs 104 crore putting an end to a 19-day buying streak. FIIs had been buying into Indian equities in the hope of a Narendra Modi-led BJP-win in the general assembly elections

Election results announced last Friday - May 16 - gave a clear majority to the BJP while Modi was declared prime minister on Tuesday.

Since Friday, FIIs have pumped in close to Rs 5,010 crore into Indian equities.