FIIs likely to play it safe till budget

Having infused a net amount of Rs 277 crore in stocks and bonds so far this month, overseas investors are likely to remain largely on the sidelines till the Union Budget is presented on February 28.

"Foreign investors are waiting for Budget clarity, like how the government is going to react to fiscal deficit, borrowing and infrastructure," CNI Research CMD Kishor P Ostwal said.

Over the 13 trading sessions in February so far, foreign institutional investors (FIIs) invested Rs 277 crore on Indian stocks and bonds. In dollar terms, FIIs invested USD 60.98 million during the period, data released by market regulator Securities and Exchange Board of India (SEBI) reveals.

There will be no major FII buying activity in the market till the Union Budget on February 28, Ostwal said.

Overseas investors have been gross sellers of equities worth Rs 2,091.