Indian Stock Exchanges from past few days are reacting to global market cues
Foreign institutional investors purchased Indian stocks worth $1.35 billion( Rs6,213.8crore)
In the last one week, the highest in five months best in any week after a Union budget since 2001.
“There are attractive investment opportunities India is the second fastest growing $1 trillion-plus economy in the world and the government is focused on pushing economic growth to double-digit levels”.. Investments into India will continue,” -Christopher Avenarius, director, alternative investments, at Swiss bank Credit Suisse Group AG
- FIIs invested a further $248.62 million, or Rs1,132.01crore.
- India’s most widely followed index- Had gained 4.1% since the Budget was presented.
- The 50-stock broader Nifty rose 4.1% in the same period so far in 2010 FIIs have put in $1.35 bn, on top of $17.64 bn last year
- So far, in 2010 FIIs have invested $1.35 billion, in 2009. “Investors are closing their underweight positions in India now,”-said Singapore based fund manager.
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