FII holdings has reduced 7% between Jan-Sep 2008 (from 38% of free-float to 35%); however the value of their holding has reduced 70% most of which is explained by the 50% market fall and 20% INR depreciation.
FIIs had put in almost $67bn in Indian equities during 1993-2007. They have sold $12bn YTD and current worth of their remaining holding is ~$80bn (this was $244bn in Jan’08).
An analysis says “FII have lost USD 170bn in CY08”
Can’t believe it?
Well, here are the reports!