wise investors in stock market chaos
January 24, 2008
Mumbai, Jan 24 When market was going through one of its toughest
times over the past few days, non-resident Indians held their nerves
-- they dumped stocks right at the start of southward journey and
turned buyers at the bottom. The NRIs were net sellers of shares
worth close to Rs 23 crore on January 14, the first day of seven-day
downslide that continued till January 22, according to data with
The benchmark Sensex dropped 100 points on January 14 and fell
further 476 points on the next day, when the NRIs were net sellers
of shares worth about Rs 4 crore.
During the next four trading sessions, when the Sensex was continuing
its downslide including its largest one-day fall of 1,408 points
on January 21, NRIs were seen bottom-fishing by purchasing shares
at the lower levels.
On all four days, NRIs were net buyer of shares,although in smaller
quantities ranging from Rs 1 to Rs 5crore each.