It looks like the fact that foreign institutional investors (Flis) have reduced their exposure to Indian debt in 2009 (calendar) has gone relatively unnoticed. Foreign funds sold a net Rs 3,549 crore of debt on June 26 — the highest sales in a day for the year so far. Even as they made nearly Rs 25,000 crore worth of purchases in the equity markets, Fils have been sellers in debt to the tune of Rs 6,182 crore. June ended on a marginally positive note with inflows of Rs 743 crore, notwithstanding the June 26 sell-off. March witnessed the heaviest selling by foreign investors this year — about Rs 6,482 crore.
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