FII buy shares worth $4B in three months

By agencies   |   Wednesday, 16 March 2005, 20:30 IST
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MUMBAI: Foreign Institutional Investors have bought shares worth $ 4 billion in the first three months of this year, Market ombudsman Securities and Exchange Board of India said. Hectic buying by the Foreign Institutional Investors has been taking up the market since the beginning of the month, but it fell just short of touching the magical 7000 mark. Last week India became only the fourth country in Asia whose stock market had a market capitalization of over $ 400 billion. Since January 25 this year, Foreign Institutional Investors have been on a buying spree and bought shares worth $4 billion. This is almost half way mark compared to the record buying of shares worth $8.5 billion in 2004.