Foreigners on Longest Buying Streak of Indian Stocks in a Year
- Initial announcements from new government allays worries: GAMA
- Purchases helped pared outflows for the year to $1.3 billion
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Global funds have been net buyers of Indian equities for 10 straight days, the longest run in nearly a year, as concerns about policy continuity after Prime Minister Narendra Modi’s upset at the election rapidly dissipated.
They bought $3.4 billion worth of shares in the period through June 21, data compiled by Bloomberg show. That helped pare this year’s outflows that had reached $4.8 billion two days after the June 4 election result showed the ruling party losing its majority in parliament.