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Stock impact report

Strong FII inflows, rupee lift Indian shares to near six-month high [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
Strong FII inflows, rupee lift Indian shares to near six-month high | Reuters 2 Min Read (Reuters) - Indian shares jumped over 1 percent on Tuesday to a near six-month high, buoyed by strong foreign fund inflows as chances brightened of Prime Minister Narendra Modi’s ruling party returning to power for a second term. Investor sentiment was also boosted by a strong rupee, which rose to a two-and-a-half-month high, and gains in broader Asian stock markets after the European Commission agreed to changes in a Brexit deal ahead of a vote in the British parliament on a divorce agreement. Net foreign portfolio inflows into Indian shares hit a 15-month high of $2.42 billion in February, a big swing from 2018’s net outflows of $4.4 billion. For an interactive graphic on weekly FII investment, click tmsnrt.rs/2EUCEY9 “Globally, there is allocation towards emerging markets and we’re getting a share... Market prefers stability, they prefer if ruling government continues,” said Neeraj Dewan, dire Show less Read more
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