FIIs turn net sellers in May

The euro zone turbulence has led foreign investors to snap their three-month long investment streak in the Indian equity market and emerge net sellers of shares over Rs 9,400 crore ($2 billion) in May. Foreign institutional investors (FIIs) were gross buyer of stocks worth Rs 52,192 crore in May, while they sold shares worth Rs 61,628 crore, becoming net sellers of Rs 9,436 crore, data available with market regulator Sebi showed. This is the first time after January that FIIs turned net sellers of shares in 2010.