FIIs sell Rs 2,900 crore worth of futures in two sessions

Foreign institutional investors (FIIs) have sold Rs 2,900 crore worth of index futures in the last two trading sessions, indicating they are bracing for lower levels in cash shares in the near term, dealers say.

According to dealers, this raises some concerns after FIIs were net sellers of Rs 86 crore of stocks on Monday and about Rs 500 crore on Friday, exchange and regulatory data showed.

FIIs have been a key support for markets after buying a net Rs 1,527 crore worth of shares this year as of Monday's close.

The rupee's moves are also being closely watched as any further weakness is likely to trigger concerns about foreign fund outflows and raise issues about funding the current account deficit, traders add.

Copyright: Thomson Reuters 2013