FPIs turn buyers for the first time in September

Mumbai, Sep (IANS) Foreign Portfolio Investors (FPIs)on Wednesday turned buyers for the first time in September. FPIs had been on a sell mode despite the roll-back of the tax surcharge on them as macro-economic concerns took the centre stage.On Wednesday, FPIs bought Rs 266.89 crore worth of stocks while Domestic Institutional Investors bought Rs 1,132.42 crore worth. However, the outflow had steadily declined from Rs 2,016.20 crore at the start of the month, down to Rs 188.08 crore on September 9.India Ratings and Research earlier in the month said it expects headwinds to foreign portfolio investment flows into India to continue over the near-to-medium term despite the accommodative global monetary policy stance."A gamut of factors, such as slower-than-expected demand growth in major economies, geopolitical and trade tensions and a gradual weakening of the economic growth prospects in India, have contributed to a build-up of risk aversion, which has impeded the demand for emerging market (EM) debt instruments," the rating agency said.
--IANS ravi/sn/vd