Foreign Funds Sell Net 311 Million Rupees of Indian Equities
Overseas funds sold a net 311 million rupees ($7 million) of Indian equities yesterday, paring their investment in stocks this year to 96.2 billion rupees, the nation’s market regulator said.
Foreigners bought 18.8 billion rupees of shares and sold 19.1 billion rupees, the Securities and Exchange Board of India said today. They sold a net 1.66 billion rupees of bonds, reducing their flows into debt this year to 161.2 billion rupees.
Overseas investors bought a record 1.33 trillion rupees of shares in 2010, helping fuel a 17 percent rally in the Bombay Stock Exchange’s Sensitive Index, the best performer among the world’s 10 biggest equity markets last year. They invested 464 billion rupees in bonds last year.
The previous record was in 2009 when flows reached 834.2 billion rupees, sparking the biggest rally in 18 years. Funds pulled out a record 530 billion rupees from equities in 2008, setting off the worst annual slump. Foreign funds have placed 4.567 trillion rupees in stocks and 947.9 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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