FIIs shun P-Notes for investment in India market

Foreign institutional investors’ (FIIs) India exposure through participatory notes (P-Notes) fell to an all-time low in June. Last month FIIs pared P-Note positions worth Rs 53,570 crore, bringing these off-shore derivative contracts’ share in total FII investments below 10 per cent for the first time since 2003, beginning which data is available with the Securities and Exchange Board of India (Sebi).

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