Over the last five years, and over the last five budgets, indices may have zoomed up riding on post-budget highs, but eventually, the markets have set their own direction. Most market movers have picked their strategies. In the first two months of 2001, FIIs have invested Rs 5,531 crore in the market. The hike in FII-ceiling from 40 per cent to 49 per cent will increase market capital available to FIIs. That should up funds inflow.
Fund managers are ecstatic.
The reduction in administered interest rates, they believe, will make mutual funds more attractive in the eyes of investors. With the Reserve Bank of India following up Sinha by reducing the interest rate by 50 basis points, more money could flow into the equity market. Elbee Services 3. Global TeleSystems 4. Himachal Futuristic Communications 5.