Data points in India have always been a sticky issue but the FII figures divulged by the market regulator Sebi are turning out to be quite misleading.
Without pointing fingers at the regulator, they might have their own compulsions and reasons why they are reporting wrong data, incorrect and inaccurate data, but this is coming once too often. One is unsure of what exactly the FII figure is. On Friday, FIIs were selling and on Monday, people would have walked into the market thinking that the markets sold off because FIIs sold $150 million. But come Monday evening, they are told FIIs were actually buying, they bought $73 million. Now this could create a big difference to sentiment.
The FII figure is a very central cue and the regulator owes it to investors to get the right figure out in time, it is not the first time it is doing it.
Does the regulator not pull out companies for misleading investors if a company comes in with a wrong set of earnings or wrong set of data of subscription for IPOs? Why should the lawmaker be above the law as this is just downright misleading?
We are in the business of live information led stock markets, which trades Rs 50,000 crore (Rs 500 billion) a day.
Serious money is being made and lost and here, the regulator of this country is putting out incorrect information in the public domain like this, which is genuinely misleading investors.
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