Citi sells shares worth Rs 971 cr in Indian cos in 2 days
Mumbai: Continuing its selling spree for the second day on Thursday, foreign fund house Citigroup Global sold shares worth over Rs 491 crore in about 36 Indian companies, taking the total share sale to Rs 971 crore.
According to the latest data with the Bombay Stock Exchange, Citigroup Global Mauritius sold shares in 36 domestic companies, including Reliance Industries, HDFC nad Infosys, through open market to another foreign fund house Swiss Finance Corporation (Mauritius).
Yesterday, Citi had sold shares valued over Rs 480 crore of 35 Indian firms. Both the transcations were through the block deal counter.
Citigroup Global Markets Mauritius sold its part holding in companies, including Reliance Industries, Infosys, State Bank of India, Tata Motors, Tata Steel, HDFC and Reliance Communications.
On Thursday, Citi sold shares worth Rs 71.72 crore of RIL, while in SBI, it offloaded shares worth Rs 7 crore. The other firms in which Citi sold stakes includes HDFC, Wipro, HDFC Bank, TCS, L&T, ONGC, DLF, M&M and Hindalco.
>"It seems that one of the big clients of Citigroup has offloaded its holding in the open market, while Credit Suisse has bought it. It may also be that the client has changed its fund house," SMC Global Vice President Rajesh Jain said.
Meanwhile, in Thursday`s trade overseas investors were the net seller of shares worth Rs 312.01 crore, as per provisional data available with the Bombay Stock Exchange.
Yesterday, foreign institutional investors were net seller of Indian equities worth Rs 118.8 crore, data with the market regulator Securities and Exchange Board of India shows.
The stock markets barometer Sensex on Thursday settled the day at 17,584.87, higher by 0.43 per cent.
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