How sen*** danced to FIIs' tune

Foreign institutional investor (FII) buying has a lot more influence on market movements than FII selling, finds an FE study that tracked market movements of a decade. In the last decade, 76% of the times, the equity market ended on a positive note on the days FIIs had bought. In contrast, when FIIs sold, the market ended lower only 49% of the times. For the study, daily Sen*** returns were compared with the daily buying and selling figures of FIIs. It is likely that FII selling has comparatively less influence on downward trends since domestic financial institutions mainly insurance companies ...

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