Foreign investors continue to buy Indian shares

Reuters
A broker monitors share prices while trading at a brokerage firm in Mumbai August 22, 2013. REUTERS/Danish Siddiqui/Files
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A broker monitors share prices while trading at a brokerage firm in Mumbai August 22, 2013. REUTERS/Danish Siddiqui/Files

Reuters Market Eye - Foreign institutional investors (FIIs) were net buyers of Indian shares for a fourth consecutive session on Tuesday.

FIIs provisionally bought 25.6 billion rupees worth of Indian shares on Tuesday, exchange data shows, and a total of 50.5 billion rupees worth over the previous four sessions.

Indexes have rallied over the past four sessions, with the broader Nifty up nearly 10 percent in that period, on hopes government will announce steps to boost the economy.

Speculation has centered on measures to attract foreign inflows, curb non-essential imports, and a potential hike in diesel prices that would help improve confidence about the government's finances.

(Reporting by Abhishek Vishnoi)

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