Breaking News

Tesco Falls as Much as 11.8% After Saying Profit Overstated
Tweet TWEET

Overseas Investors Sell Net 7 Billion Rupees of Indian Stocks

Overseas investors sold a net 7 billion rupees ($157 million) of Indian stocks yesterday, paring their investments in equities this year to 25.8 billion rupees, the nation’s market regulator said.

Foreigners purchased 24.5 billion rupees of shares and sold 31.5 billion rupees, the Securities and Exchange Board of India said today. They bought 9.48 billion rupees of bonds, bringing total debt purchases this year to 135.5 billion rupees.

Foreign funds 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 11 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 4.497 trillion rupees in equities and 922.2 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.

To contact the reporter on this story: Paresh Jatakia in Mumbai at pareshj@bloomberg.net

To contact the editor responsible for this story: Arijit Ghosh at aghosh@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.