FIIs snap 11-day selling streak in Indian shares
Overseas investors, who have been net buyers of Indian shares so far in 2013, have sold the same in each of last 3 months weighed by a record low rupee.
September 03, 2013 / 13:55 IST
Foreign institutional investors turn net buyers in the secondary share market after 11 consecutive sessions of selling a total of about USD 1 billion.
Overseas investors, who have been net buyers of Indian shares so far in 2013, have sold the same in each of last 3 months weighed by a record low rupee, persisting worries on fiscal deficit and a policy flip-flop amid a slowing economy.An oversold market after three consecutive months of decline until August, is making traders hopeful of some market-friendly measures like a hike in fuel prices. This follows the passage of the Land Acquisition Bill and the Food Security Bill by the parliament, seen as populist.Also Read: Mkt won't fall off cliff; buy ITC, OMCs: Pashupati Advani Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
