FII
have poured in nearly Rs 2,600 crore in the Indian markets during the first
week of the month on the back of new RBI Governor Raghuram Rajan announcing
spate of measures including steps to boost the rupee
and revive economic growth.
The net inflows during the week followed a net withdrawal of nearly Rs 16,000 crore (about $ 2.5 billion) from the Indian markets in August -- the lowest outflows in three months.
During the week, inflows were about Rs 1,689 crore ($ 256 million) in the debt marketand Rs 882 crore ($ 135 million) in the equities translating into a net inflows of Rs 2,571 crore ($ 392 million), as per latest data from Sebi.
Market analysts said that renewed buying by (FIIs) were witnessed after Raghuram Rajan took over as the RBI chief and announced a slew of measures to attract capital flows and boost economic growth.
Rajan, who took over as RBI chief on Wednesday, had announced steps to attract dollar inflows, including enhanced limits for exporters to re-book cancelled forward exchange contracts and a window to swap foreign currency deposits.
The local currency, which has been deprecating since May, has spurted 239 paise, or 3.53%, in past three sessions. Rupee closed at 65.24 against the dollar on Friday.
So far this year, FII’s have infused a net Rs 61,052 crore ( $ 11.7 billion) in equities, while FII’s have withdrawn nearly Rs 38,460 crore ($ 6.2 billion) from the debt market
The net inflows during the week followed a net withdrawal of nearly Rs 16,000 crore (about $ 2.5 billion) from the Indian markets in August -- the lowest outflows in three months.
During the week, inflows were about Rs 1,689 crore ($ 256 million) in the debt marketand Rs 882 crore ($ 135 million) in the equities translating into a net inflows of Rs 2,571 crore ($ 392 million), as per latest data from Sebi.
Market analysts said that renewed buying by (FIIs) were witnessed after Raghuram Rajan took over as the RBI chief and announced a slew of measures to attract capital flows and boost economic growth.
Rajan, who took over as RBI chief on Wednesday, had announced steps to attract dollar inflows, including enhanced limits for exporters to re-book cancelled forward exchange contracts and a window to swap foreign currency deposits.
The local currency, which has been deprecating since May, has spurted 239 paise, or 3.53%, in past three sessions. Rupee closed at 65.24 against the dollar on Friday.
So far this year, FII’s have infused a net Rs 61,052 crore ( $ 11.7 billion) in equities, while FII’s have withdrawn nearly Rs 38,460 crore ($ 6.2 billion) from the debt market
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