Foreign investors step up buying of Indian shares, net purchases at $752.76 mn in 3 sessions

Reuters Posted online: Wednesday, May 14, 2014 at 0000 hrs
Mumbai : Overseas investors have bought Indian cash shares and index futures worth Rs 63.39 billion ($1.06 billion) in the three sessions from Friday to Tuesday.

Foreign investors bought Indian cash shares worth 45 billion rupees ($752.76 million) and index futures worth 18.4 billion rupees in the previous three sessions.

The net purchases come at a time when shares have rallied to record highs on widespread expectations that the Narendra Modi-led opposition party BJP and its allies would clinch a majority in Lok Sabha elections results due to be unveiled on Friday.