Heavy outflow from FPIs on 2 July

It reflects shares tenders by FPIs in United Spirits open offer

Foreign portfolio investors (FPIs) sold shares worth a net Rs 4126.29 crore on Wednesday, 2 July 2014. The net outflow of Rs 4126.29 crore on 2 July 2014 was a result of gross purchases of Rs 4829.96 crore and gross sales of Rs 8956.25 crore.

There was a net inflow of Rs 1305.70 crore into the secondary equity market on 2 July 2014, which was a result of gross purchases of Rs 4812 crore and gross sales of Rs 3506.30 crore. The S&P BSE Sensex had risen 324.86 points or 1.27% to settle at 25,841.21 on that day, a record closing high for the barometer index.

There was a net outflow of Rs 5431.99 crore from the category 'primary market & others' on 2 July 2014, which was a result of gross purchases of Rs 17.96 crore and gross sales of Rs 5449.95 crore. The outflow appears to be due to foreign investors tendering shares in the open offer for the public shareholders of United Spirits. Diageo plc on 2 July 2014 said it has accepted the tender of 3.77 crore equity shares in United Spirits (USL), representing 26% stake in USL, at a price of Rs 3,030 per share under the voluntary open offer announced on 15 April 2014.

FPIs have bought shares worth a net Rs 57926.70 crore in this calendar year so far (till 2 July 2014). FPIs bought shares worth a net Rs 113135.90 crore in 2013 calendar year.

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