The rupee today appreciated by sevenpaise to 45.57 a dollar in early trade in line with other firming Asian currencies amid higher capital inflows by foreign funds.
Foreign fund houses infused a net Rs 8,191 crore (USD 1.7 billion) in the Indian stock markets during the first fortnight of 2010, signaling a good start for the year, in terms of fund inflow.
The Reserve Bank on Tuesday said that foreign institutional investors would be allowed to buy more shares of Maruti Suzuki but only after obtaining approval from the central bank.
The equity markets witnessed a
net inflow of Rs 5,400 core from overseas investors during
November, taking their total investment in the country so far
this year to over Rs 73,100 crore.
The government Wednesday said the surge in Foreign Institutional Investor inflows is not a matter of concern and measures will be taken to counter it, if "distortions" emerge.
Betting big on Indian stocks, one of the best among the emerging markets, foreign fund houses have invested a hefty Rs 34,300 crore during the second quarter of this fiscal.
Overseas fund inflows into the Indian stock markets have crossed the Rs 60,000-crore (about USD12 billion) mark so far this year.
Showing their renewed enthusiasm for
the Indian stock markets, foreign institutional investors have
invested over Rs 2,000 crore in just two-trading sessions.
Market regulator SEBI on Friday said
a foreign institutional investor cannot hold more than Rs 800
crore at any given point of time.
The government should not open up the debt market to FIIs beyond USD 5 billion (about Rs 25,000cr) to support its borrowing plan as it could be counterproductive in the prevailing scenario, industry body Assocham on Thursday said.
FIIs have made a net investment of just Rs 264 crore in the domestic stock markets in August.
In a sign of confidence in the
Indian markets, Foreign Institutional Investors pumped in over
six billion dollar, or about Rs 29,940 crore this year, with
over one billion dollar coming in July alone.
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