Pursuits
Foreigners Seen Buying More Indian Stocks on Policy Reforms
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Offshore investors will buy more Indian equities after the nation opened its retail and aviation industries to foreigners, accelerating the highest fund inflows in Asia this year, Bajaj Allianz Life Insurance Co. said.
Prime Minister Manmohan Singh approved on Sept. 14 plans to allow overseas retailers such as Wal-Mart Stores Inc. to own 51 percent of supermarket chains, and lifted a restriction on airlines selling stakes to foreign carriers. The benchmark BSE India Sensitive Index, or Sensex, rose 0.4 percent to 18,542.31 in Mumbai, its highest close in 14 months.