Domestic funds splash $1 billion/day on shares in dip-buying spree

Indian funds bought more than $1 billion of shares daily for three straight sessions through Monday, helping absorb large sales by foreign investors amid a rotation into China’s rebounding markets.

Domestic institutions, including mutual funds and insurers, bought equities of over $4 billion in the three sessions, according to data compiled by Bloomberg.

Stocks in India fell for six straight days before advancing on Tuesday amid withdrawals of about $5.4 billion by global funds since the start of last week.