Street Signs: FPIs dial back wagers, grey mkt premiums for IPOs, and more

FPIs dial-back wagers: Cut back on long positions

Foreign portfolio investors (FPIs) have scaled back their bullish bets, nearly triggering a 500-point fall in the Nifty50 Index. From an intraday high of 18,888 on December 1, the index declined to a low of 18,410 on Friday, before finishing at 18,497. “This correction is mainly due to profit-booking. We have seen the unwinding of long positions by FPIs in the index futures segment. Their long-short ratio has reduced from about 76 per cent to 60 per cent since December 1,” observes Ruchit Jain, lead research analyst, 5Paisa. “The immediate support for