Reuters Market Eye - Foreign institutional investors (FIIs) have sold about 39 billion rupees worth of index futures in the last four trading sessions, indicating they are bracing for lower levels in cash shares in the near term, dealers say.
FIIs on Wednesday sold 6 billion rupees worth of index futures, according to the National Stock Exchange data.
"So far the selling in derivatives indicates unwinding of long positions, if this followed by fresh short positions by FIIs then it can become a big concern," says a derivative analyst.
FIIs have been a key support for markets after buying a net $15.38 billion rupees worth of shares this year as of Wednesday's close.
