FIIs extend sales to 3rd day in futures, shares

Overseas investors sold Rs 1,329 crore worth of index futures on Tuesday, leading to total sales of Rs 2,334 crore over the previous three sessions, exchange data shows.

Outstanding positions in index futures increased by 26,816 contracts on Tuesday, implying foreign investors created fresh short positions in Nifty futures and Bank Nifty futures, dealers say, citing exchange data.

Foreign investors also sold cash shares worth Rs 567 crore on Tuesday, totalling sales of Rs 839 crore since Thursday, regulatory and exchange data shows.

Analysts say foreign flows may remain volatile as some may book profits and churn allocations after Indian shares hit record high in December backed by over $20 billion worth of foreign buying in cash shares.

Events including October-December earnings, inflation data, central bank policy review in January are also keeping flows in check, dealers added.

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