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July 2, 2001
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FIIs, MFs operated in contrast during Q1

The foreign institutional investors and mutual funds operated in contrast to each other for investments in equities for the first three months of fiscal 2001-02 with the former being net buyers at Rs 35.30 billion ($755.6 million) and the MFs remaining net sellers worth Rs 8.95 billion.

The FIIs and MFs, however, remained net buyers in debt at Rs 3.04 billion ($64.8 million) and Rs 25.12 billion respectively in the April-June period, according to the data available with Securities and Exchange Board of India in Bombay.

In June, FIIs bought equities worth Rs 34.63 billion while offloading them to the extent of Rs 27.47 billion, thus turning net buyers at Rs 7.15 billion ($152.4 million).

The foreign funds were net buyers on 14 and 10 trading days in equities and debt respectively.

MFs remained net sellers in equities on 12 days while being net buyers in debt on 19 trading days, Sebi said.

On the equities front, FIIs were net buyers at Rs 17.70 billion ($379.7 million) in April and Rs 10.46 billion ($223.5 million) in May.

With respect to debt instruments, the foreign funds were net buyers at Rs 2.09 billion ($44.8 million) in the first month of FY-of FY-02 while turning net sellers worth Rs 3.70 billion ($79 million) in the next month.

MFs were net sellers and net buyers in equities (Rs 2.93 billion) and debt (Rs 7.45 billion) respectively for the month of April. The same trend continued in May at Rs 4.78 billion (equities) and Rs 11.42 billion (debt).

In June, FIIs made their highest net purchase in equities on June 25 at Rs 1.55 billion ($33.1 million) followed by Rs 12.3 billion ($26.2 million) on June 6.

On the debt front, the foreign funds were net buyers at Rs 1.88 billion ($40 million) on June 1, the highest for the month, as they bought instruments worth Rs 1.93 billion while selling to the extent of Rs 56 million.

MFs, on other hand, heavily offloaded debt instruments on June 8 at Rs 5.83 billion as against purchases of Rs 1.21 billion to remain net sellers worth Rs 4.41 billion.

However, on June 25, they were net buyers to the tune of Rs1.30 billion.

For the trading week ended June 29, the FIIs were net buyers, both in equities and debt, at Rs 2.63 billion and Rs 970 million respectively.

The MF data for four trading days beginning June 25 shows that they were net buyers in debt at Rs 3.06 billion.

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