Foreign buying in Indian shares crosses trillion-rupee mark for 2013
Monday, 9 December 2013 00:00
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REUTERS: Overseas investors were buyers of 11.51 billion rupees worth of Indian shares on Thursday, taking total inflows for the year to over 1 trillion rupee, regulatory and exchange data show.
Foreign institutional investor (FII) flows have earlier crossed the 1 trillion rupee mark in 2012 and 2010.
They have made net purchases of around $ 18 billion so far this year, making India the number one recipient of overseas stock investment in emerging Asia, Deutsche Bank figures show.
November 2013 was the third consecutive month of net FII inflows, as FIIs invested $ 1.3 billion then. FIIs were sellers of 230.36 billion rupees in June to August period, regulatory data shows.
Analysts say the continuance of foreign flows depends on the prospects of US Federal Reserve tapering its bond-buying program and fate of India’s main opposition party in the upcoming general elections, due by May.
