InvestorQ : How do you see the sharp spurt in FII buying to Rs.7500 crore on Tuesday? Is this a sign of FII buying revival?
sarah Leo made post

How do you see the sharp spurt in FII buying to Rs.7500 crore on Tuesday? Is this a sign of FII buying revival?

Answer
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diksha shah answered.
3 months ago


You must take that number with a pinch of salt because a large chunk of that would have come from the block trade in Kotak Bank shares. You must be aware that Uday Kotak sold Rs.6900 crore worth of shares in Kotak Bank or 2.9% stake to bring his stake down to 26%. This block was lapped by a number of FPIs including University of California, Canadian Pension Fund and INVESCO Oppenheimer. If you remove the Kotak block deal, the actual buying may still be positive but not really significant.