Foreigners Buy Most India Stocks in 3 Months on Rate View
This article is for subscribers only.
Overseas investors are stepping up purchases of Indian shares, buying the most since February on May 15, amid speculation slowing inflation will give the central bank more scope to cut interest rates to stoke economic growth.
Foreigners bought $311 million more of local stocks than they sold May 15, the most since Feb. 7, according to data from India’s regulator. They purchased a net $227 million of shares yesterday, data showed today, taking total inflows into stocks this year to $13.4 billion. That’s a record for the period and the second-largest among 10 Asian markets tracked by Bloomberg, behind Japan.