Small investors turn buyers on Brexit day
This is just time in the current fiscal when small investors had become the net buyers.
Mumbai: As stock markets globally went into a tailspin taking a $2.5-trillion hit within hours of the Brexit verdict, retail investors in India took a contrarian call by turning net buyers to purchase shares worth Rs 118 crore — the highest for a day so far this fiscal.
The post-trading data released by the stock exchanges show that the foreign investors sold heavily while brokers also remained net sellers in their proprietary accounts.
However, domestic institutions, including state-run and private sector insurers as also domestic mutual funds, pitched in to shore up the markets from their lows and remained net buyers to the tune of Rs 115 crore.
However, the biggest surprise, as per the stock exchanges’ data, was the retail investors who trade as ‘clients’ of brokers with a net purchase higher than that of the domestic institutional investors (DIIs). These clients bought shares worth Rs 1,723.47 crore while their sales were to the tune of Rs 1,605.72 crore — making them a net buyer with Rs 117.74 crore.
This is the highest in over three months since March 23, when they made a net purchase of Rs 150 crore. Besides, it has been very rare in the recent past that the retail investors have made a net purchase of over Rs 100 crore in a single day — only four such occasions so far in the current fiscal.