However, as the table shows, while FII purchases this month have been good (in fact higher than in all of September and November), their sales this month (Rs 9902 crore till January 22) are already higher than in any of the preceding four months. And a third of the month is still left.
At the same time, five new FIIs have already come in January, compared to 2 in December, 2 in November, and 5 in October. What seems to be happening is that while new investment, possibly by the new entrants, is continuing, the older players are booking profits.
Brokers say that unwinding in the derivatives segment has been the real reason for the crash in the last few days. On Wednesday, for instance, outstanding futures were down 12 per cent. If we take out the 3 per cent price fall, positions fell 9 per cent.
And open positions have fallen dramatically in the last few days
