FIIS DUMP DEBT, BULK UP ON EQUITY

Global investors’ strategy on Indian stocks and bonds is diverging. They bought $5.5 billion worth of Indian shares this year, among the highest in emerging Asian economies, while selling $1.8 billion worth rupee-denominated bonds. Double-digit growth forecasts are luring foreigners to Indian stocks, said Harihar Krishnamoorthy, treasurer at Firstrand Bank in Mumbai. Bonds are not that attractive given the negative returns and a huge borrowing program, he said.