FIIs were net sellers of Rs3.23bn (provisional) in the cash segment on Tuesday while the local institutions pumped in Rs1.05bn. In the F&O segment, foreign funds were net sellers at Rs509.2mn. On Monday, FIIs were net buyers at Rs1.54bn in the cash segment. Mutual Funds net sold Indian shares worth Rs750mbn.
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Shares of TVS Motor gained 0.3% to Rs23 after exports posted the highest ever growth, with sales doubling when compared to the same period of the previous year. The company exported 20,911 units of two wheelers in November 2008 as against 10,408 units in the corresponding period of the previous year. Exports of the company witnessed continuous growth since April this year, recording cumulative growth of 54% during April to November of the current fiscal year.
Maruti slipped over 9% to Rs485 after the company announced that domestic sales fell by 26.9% to 47,704 units from 65,216 units in the same period last year. However, exports increased by 11.7% to 5,007 units in Nov 08 from 4,483 sold in the same period last year.
