FIIs step up buying

Foreign institutional investors (FIIs) have been net buyers in the Indian stock market since the central bank indicated a coming pause in its monetary tightening policy and European Union (EU) leaders agreed to a bailout plan to contain the region’s debt crisis.

In just five sessions since the Reserve Bank of India’s (RBI) monetary policy announcement on October 25, FIIs have net-purchased Indian shares worth Rs 3,147 crore ($644 million), showed data on the Securities and Exchange Board of India (Sebi) website. For the week ended November 2, India-focused equity funds registered their biggest retail investor inflow since mid-December 2010, according to EPFR Global, which tracks fund flows into world markets.



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