Domestic
institutional investors (DIIs) may not be net buyers of Indian equities in the
near term on lack of inflows and are likely to continue with redemption or sit
on the sidelines, mutual fund officials said.
DIIs will continue
like this... when DIIs get inflows, you will see some activity, chief executive
officer of IDBI MF Debashish Mallick said.
As per exchange
data,DIIs have net sold Rs. 73,234 crore of domestic equities so far this year,
which is higher than the last years Rs. 56,923 crore.This is also one of the
highest sales of domestic equities by DIIs in nearly one decade.
In contrast, foreign
institutional investors (FII) have bought more than Rs. 1 lakh crore worth
stocks in Indian market as of now in this year, making it one of the highest
inflows in a year.
Given the volatile
market environment with no inflows in sight, selling may continue in the
nearterm, said Mr. Jimmy Patel, Chief Executive Officer, Quantum Mutual Fund.
He, however, said that if inflows start coming into domestic institutions, this
trend will be reversed.
PTI
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