FIIs Extend Sale of Indian Shares on Risk Aversion, Over Ownership

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Overseas investors sold shares worth of Rs 1,247 crore on Tuesday, according to NSE, marking their biggest daily sale since October 17.

Although foreign investors remained net buyers to the tune of $17.07 billion this year, but they have sold shares worth a total of $530.28 million over the past six sessions as per NSDL and NSE data.

Over ownership in short term and risk aversion due to tumbling oil prices and Russian rouble weighed on market.

Emerging market and Asia Pacific investors remained most overweight on India, a Bank of America’s fund manager survey said.