Foreign institutional investors (FIIs) turned net buyers
in both equities and debt at Rs 439.2 crore and Rs 63.3
crore, respectively, during the trading week ended 7 February
have been positive about the Indian equity markets and
have been net buyers since the beginning of the new year.
FIIs pumped in a record Rs 789 crore in January 2003 in
the equity markets.
equity markets are definitely more attractive than other
Asian and European markets as the profit to earnings (P/E)
ratio of Indian equities are the lowest compared to other
markets. Also, in the run-up to the budget, the sentiment
is high and they expect a bull-run, says Mayur Mehta,
a market analyst.
were net buyers in equities on all trading days and four
days in the debt segment. Foreign funds bought and sold
equities worth Rs 321 crore and Rs 172.6 crore, respectively,
on 3 February, thus netting purchases of Rs 148.4 crore.
were also net purchasers to the tune of Rs 133.3 crore
on 5 February and Rs 69.2 crore on 7 February. On the
debt front, they were net buyers at Rs 50.1 crore on 6
February while netting sales of Rs 11.5 crore on 4 February
but did not transact any activity on two trading days.
funds (MFs), too, were net buyers in equities at Rs 21.43
crore while netting outflows at Rs 118.4 crore in the
debt market in the first trading week of February, according
to the data available with the Securities and Exchange
Board of India.
year the focus will be definitely more in the equity markets
than in the debt market, considering the low yield after
the decrease in the interest rates, says Vijay Bhambwani,
netted purchases of Rs 24.41 crore in equities on the
first day of the week followed by Rs 4.02 crore on the
next day. However, in debt they were net sellers at Rs
38.42 crore, Rs 44.82 crore and Rs 41.01 crore on 3, 5
and 6 February, respectively.
Bombay Stock Exchange Benchmark 30-share Index had rallied
past 3,300- level to the weekly high at 3,311.18 but later
ended the week at 3,279.77 as against last weekends
close of 3,250.38 a gain of nearly 29 points.