“Foreign investors ditch China to start $9 billion stock buying frenzy in India”, Economic Times, June 19, 2023:
“Unimpressed with the post-Covid growth story of China, foreign institutional investors (FIIs) have been jumping ships resulting in a $9 billion catalyst to Indian stocks in the first quarter of FY24.
With daily average buying totalling around Rs 1,400 crore, foreigners have not only been the biggest buyers of Indian equities so far this financial year but have also taken over as Dalal Street’s Mr Consistent. NSDL records show that FIIs have been net sellers only on 8 days out of 51 trading sessions in FY24.
On the other hand, domestic institutional investors (DIIs) have bought stocks only worth about Rs 6,500 crore during the period against FII buying of about Rs 72,000 crore in INR terms….”
Read the full article at Economictimes.indiatimes.com
