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FIIs
pump $677.80mn in the markets for the week
Mumbai: The Foreign Institutional Investors (FIIs) recorded net purchases
in equities at Rs2942.1 crore ($ 677.80 million) for the trading week ended
June 24, according to data available with the Securities and Exchange Board
of India (SEBI).
Mutual
funds (MFs) were net sellers at Rs918.64 crore during the same period. The
foreign funds were net sellers in the debt market at Rs75.1 crore ($17.3 million)
for the period under review, while mutual funds were net purchasers in the
debt market at Rs625.52 crore. The
foreign funds recorded highest net inflows of the trading week in equities
at Rs1467.60 crore ($337.50 million) on June 23. MFs recorded highest net
sales in the equity market on June 23 when they offloaded equity worth Rs
317.29 crore. The
highest purchases by MFs in debt market were on June 22 at Rs410.87 crore
followed by purchases of Rs 84.82 crore on June 23.
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Tense
China relationship turns Japanese investors towards India
Kolkata: According to FII sources leading global and Asian powerhouses,
such as OCBC group of Singapore and Malaysia, HSBC, Fidelity, Prudential and
Nomura, have established India-dedicated funds and raised more than $5 billion
in the last couple of months from Japanese investors. The
sources say that each of these five companies started investing in Indian
equities this month. The main cause for this shift in focus towards India
has been the disenchantment with the returns from the Chinese equities market
and the persistent Chinese antipathy towards Japan. Sources say that a few
more international funds active in Japan are planning to have India-specific
equity funds. The
comprehensive economic co-operation agreement, which will come into effect
next week following the Singapore PM's visit and formalisation of the treaty,
will also boost investments in India from the Far East and South-East Asia.
Apart
from tax advantages, the treaty will facilitate Singapore-based investment
outfits to invest in India with greater ease.
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