FIIs continue as net buyers in Indian equities

Foreign institutional investors (FIIs) continued to invest in the Indian equities market which closed trade for the week ended Aug 28 trade at yet another record high.

The Indian markets, which remained closed for trading Friday on account of Ganesh Chaturthi, saw healthy buying from foreign institutional investors Thursday.

Data with the National Securities Depository Limited (NSDL) showed that the FIIs had turned net buyers Thursday to the tune of $87.97 million, or Rs.531.90 crore.

"FIIs were net buyers but buying was subdued over the week. Easing of geo-political tensions in Israel-Palestine also helped," Dipen Shah, head - private client group research, Kotak Securities said.

Domestic institutional investors (DIIs), including banks, development finance institutions (DFIs), insurance and mutual funds, bought net stocks worth Rs.730.43 crore on Thursday.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,620.18 points, closed the day's trade at 26,638.11 points, up 77.96 points or 0.29 percent from the previous day's close at 26,560.15 points.

It surpassed the previous high of 26,630.74 points it touched Aug 25. This was the seventh consecutive monthly gain of the benchmark index.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed the day's trade 18.30 points or 0.23 percent up at 7,954.35 points.

Expectations of stable GDP growth figures coupled with an overall expectation of further reform push by the new government and the quick notifications for the hike in foreign direct investment (FDI) limits in defence and railways also led to positive investor sentiments.