The relentless selling of Indian equities by FIIs have added up to net sales of $11 billion by them so far this year, according to data on the SEBI Web site.
“Major international banks have been announcing large write-downs. It looks like as if Credit Suisse, too, is in trouble now, this could be one of the reasons why they sold quite a lot yesterday,” said the head of research at a brokerage. Reports said the Swiss bank had raised 10 billion Swiss francs in new capital from a small group of global investors as it had posted a third quarter loss of 1.3 billion francs.
Data on bulk deals available on the BSE Web site show that Credit Suisse Singapore sold shares worth Rs 11.4 crore on Wednesday. They sold 2.48 lakh shares of Diamond Cables, 42,466 shares of Dynamatic Technologies, 1.56 lakh of Eicher Motors and 1.67 lakh shares of Nucleus Software Exports.
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