Fed made FIIs spend Rs 27,000 crore on bank stocks but China forcing a U-turn now
- Posted on October 8, 2024
- By Business News Today
- 2 Views
Fed made FIIs spend Rs 27,000 crore on bank stocks but China forcing a U-turn now
FIIs invested Rs 27,000 crore in Indian bank stocks after the US Fed's rate cut. However, they reversed their investments due to China's quantitative easing. This led to a drop in Nifty Bank index by 5% in early October. Investors are watching for RBI's monetary policy decision on October 9.
