The Hindu Business Line : FIIs: India expensive?

Of late, FIIs have turned net sellers in the cash market. According to traders, FIIs, particularly those from the West, are gradually booking profits in Indian markets. According to them, at current levels Indian markets' valuations are too stretched. FIIs may not return to the country in a hurry, as they feel South Korea and the Philippines as more attractive than India.

Brokers expect that part of the booked profits may enter those markets. Institutions are awaiting Q3 numbers and other positive signals before committing the money in a big way, a broking source said.

K.S. Badri Narayanan

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