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Rescue plan may lure foreigners anew to Indian stocks

S&P BSE Sensex and the NSE Nifty50 have set fresh records as local investors ploughed money into shares

Santanu Chakraborty | Bloomberg  |  Mumbai 

Indian equities, already among the top performers in Asia this year, may start drawing back foreigners after the government announced a $32-billion rescue for state-owned banks weighed down by bad loans. “Foreign investors will view this very positively,” said Sageraj Bariya vice-president of sales at East India Securities. The plan “should inspire confidence in trade, industry and investors”. Overseas funds so far in October have sold a net $1 billion of Indian stocks, cutting their 2017 inflows by 20 per cent, following the slowest economic expansion in ...

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First Published: Fri, October 27 2017. 00:30 IST