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Drumbeat: Ad Buzzaar
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Wednesday, August 26, 1998
FIIs continue to be net sellers
FE INVESTOR BUREAU
NEW DELHI, Aug 25: FIIs continued to pull out funds from India for the third successive week. For the week-ending August 21, the net FII investment was a negative $ 32.7 million. However, thanks to the relative calm in the financial markets the investment outflow by the FIIs decelerated slightly during the week. But the jitters in the South-east Asian markets and the devaluation of the rouble had its fair share of influence on the Indian markets which resulted in a net FII outflow of $ 32.7 million during the week under review. Compared to this, during the previous week ended August 14 the net FII outflow was $ 50.1 million. Going by the latest FII investment figures, the aggregate FII fund outflow for the period ended August 21 was a whopping $ 89 million against a net inflow of $ 19.7 million during the month of July. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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