|
|
|
|
|
|
| |
| |
By Category |
 |
|
|
| |
|
| |
| |
India On Media |
|
|
|
| |
|
| |
|
|
| Others
News |
|
| Indian share market at new high |
| India's main stock index, the Sensex, hit yet another record high on Friday.
|
| INDIA
, 27-October-2007
3:0:42 AM |
| The surge of 2.3% by mid-morning trading came despite plans for legislation to tighten investment rules for unregistered foreigners.
The Sensex gained 431.55 points to 19,202.44 - beating the previous high of 19,198.66, set on 18 October.
Last week, the stock market regulator proposed urgent curbs on the flow of foreign funds into shares, in order to stop the market overheating.
This led to a brief slump in the market, but shares soon recovered after India's finance minister said there was no need for alarm.
Safe haven
The regulator's recommendation relates to participatory notes - a form of investment used by hedge funds and other foreign investors who are not registered in India.
The proposal is aimed at countering a surge in foreign money that has caused Indian share prices to rise sharply, worrying some policymakers about its potential impact on the broader economy.
There is also a concern that because much of the investment is coming from unregistered firms, those investors could easily pull out, damaging the markets.
Analysts at JP Morgan suggest that of the $17bn of foreign funds invested in India so far this year, about $10bn has been in participatory notes.
India is seen by many investors as one of the safest havens among the emerging markets, as investors try to tap into one of the world's best-performing economies.
|
|
|
|
|
|
|
|
ADVERTISEMENTS
Free offer!!! Become an administrator for your zip home page, "Post" local news (local to your postcode)& pictures, "Post" advertisement banners from local companies. Make Extra money.
|
 |
 |
|
|
| |
|
