Foreign Investors Sell Net 4.76 Billion Rupees of Indian Stocks
Overseas investors sold a net 4.76 billion rupees ($107.2 million) of Indian stocks yesterday, reducing their investments in equities this year to 49.8 billion rupees, the nation’s market regulator said.
Foreigners purchased 21.5 billion rupees of shares and sold 26.2 billion rupees, the Securities and Exchange Board of India said today. They sold 1.01 billion rupees of bonds, paring their debt purchases this year to 128.9 billion rupees.
Overseas funds returned in March, after withdrawing 94 billion rupees in January and February on concern accelerating inflation will prompt further interest rate gains. They bought a record 1.33 trillion rupees of shares in 2010, helping fuel a 17 percent rally in the Bombay Stock Exchange Sensitive Index, the best performer among the world’s 10 biggest equity markets last year. The Sensex has fallen about 6 percent this year.
The previous record was in 2009 when flows reached 834.2 billion rupees, sparking the biggest advance in 18 years. Funds withdrew a record 530 billion rupees from stocks in 2008, setting off the worst annual slump. Foreign funds have placed 4.52 trillion rupees in equities and 915.6 billion rupees in bonds since they were allowed into the country in 1993.
The regulator provides data on shares bought and sold by large investors, including trades in the primary and secondary markets, with a delay of at least a day.
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