FIIs extend sale of shares on risk aversion, over ownership

Overseas investors sold shares worth of Rs 12.47 billion ($196.56 mln) on Tuesday, according to NSE, marking their biggest daily sale since October 17.

Foreign investors have sold shares worth a total of $530.28 mln over the past six sessions - NSDL and NSE data.

Although they remain net buyers of $17.07 bln this year - NSE data.

Over ownership in short term and risk aversion due to tumbling oil prices and Russian rouble weighs on market.

Emerging market and Asia Pacific investors remain most overweight on India - Bank of America's fund manager survey.

($1 = Rs 63.4400)

(Reuters)