Phew! Foreign investors finally snap selling spree in stock mkt

Foreign institutional investors turned net buyers in the secondary share market after 11 consecutive sessions of selling a total of about $1 billion.

[caption id=“attachment_108112” align=“alignleft” width=“380”] Foreign institutional investors turned net buyers in the secondary share market after 11 consecutive sessions of selling a total of about $1 billion.[/caption]

Overseas investors, who have been net buyers of Indian shares so far in 2013, have sold the same in each of last 3 months weighed by a record low rupee, persisting worries on fiscal deficit and a policy flip-flop amid a slowing economy.

An oversold market after three consecutive months of decline until August, is making traders hopeful of some market-friendly measures like a hike in fuel prices.

This follows the passage of the Land Acquisition Bill and the Food Security Bill by the parliament, seen as populist.

Reuters