Tuesday, unlike magnificent Monday, did not climb over any ostensible peaks, the markets, we mean. But there was a new flag posted in a related area nevertheles. What we are referring to is the turnover at the markets.
Markets ended perfectly flat on Tuesday, but that does not give an inkling about the extreme underlying volatility that made the turnover jump to an all-time high of Rs 1,57,781 crore, indicating also that there were buyers and sellers in equal measure on the bourses, some looking to book profits, others eyeing, perhaps, reasonable valuations and still others, short-sellers, who may have a reason to get out of a tight spot.
Among the biggest movers were the foreign institutional investors (FIIs) who net bought to the tune of Rs 4,793 crore, while the domestic institutional investors (DIIs) were net sellers at Rs 1,964 crore -- gross purchases by FIIs was Rs 12,405.89 crore and gross sales were 7,613.33 crore, while the figures for DIIs was Rs 2,658.97 crore and Rs 4,623.16 crore repectively.
While Tuesday's dramatic turnover figures may have been prodded, to some extent, by the latent hung-over demand from Monday's truncated rally, but after seeing losses throughout 2008 and some part of 2009, investors were looking to gain some rewards as the markets have climbed to unforeseen heights over the last 2 months.