FII: - Rs 3216 cr; MF - Rs 232 cr

FII Gross purchases Rs 6794 Cr, Gross sales Rs 10,010 Cr,Net Sellers Rs 3216 Cr.
MF Gross Purchases Rs 1037 Cr, Gross Sales Rs 1269 Cr, Net Sellers Rs 232 Cr.

Our View:

The huge sell off seem to be triggered off on the back of lack of clarity regarding the regulatory policies of P notes. Increase in number of sell side bulk deals seem to support that as well.
The sebi meeting was concluded today and policy clarifications can be expected. Hoverer, sessions continue to be choppy. That has created opportunities in the mid cap and well as large cap counters for the long term investors. Value added service by experts can go a long way in maximizing the gains in such circumstances.