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MARKET EYE -FIIs mark biggest buy of Indian shares in 2-1/2 months; pump $1 bln in 15 days
March 7, 2014 / 2:52 AM / 3 years ago

MARKET EYE -FIIs mark biggest buy of Indian shares in 2-1/2 months; pump $1 bln in 15 days

* Overseas investors bought Indian shares worth 12.73 billion
rupees ($207.8 million) on Thursday, to mark their biggest daily
purchase since Dec. 19, regulatory and exchange data show.
* Foreign portfolio investors extended their buying streak to a
15th straight day totalling over $1 billion, helping BSE index
 rise to record high of 21,525.14 on Thursday.
* Traders say U.S. nonfarm payroll data due later in the day and
India's inflation data next week would be key in deciding
near-term direction.
* They also bought Indian equity derivatives worth 26.28 billion
rupees on Thursday, according to NSE data.
* Heavy institutional buying has helped Indian stocks to
overcome worries including U.S. Federal reserve tapering, China
slowdown and sticky inflation. 
* Dealers say apart from the undercurrent of a pre-election
rally continued strong foreign flows are a testimony to markets
like India being differentiated in the emerging markets space
due to improving currency and narrowing current account deficit.
* The benchmark BSE index has gained in the month
before elections in each of the previous six elections, with the
biggest advance coming in 2009 when the Congress-led United
Progressive Alliance won a majority. For graphic: (link.reuters.com/xuv37v)
  

 (abhishek.vishnoi@thomsonreuters.com /
abhishek.vishnoi.thomsonreuters.com@reuters.net)

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