NRIs wise investors, lap up shares while markets crash

The non-resident Indians it seems are wise investors as they have a knack for recognising buying opportunities when the markets dip and they indulge in heavy selling when the stocks rally northwards. An analysis of NRI trading activity on the Bombay Stock Exchange (BSE) shows that they, sensing the opportunity amid the weakness in markets, doubled their buying spree in August so far compared to their last month's purchases. The benchmark index Sensex lost a whopping 1,000 points over just 15 trading sessions from July 27 to August 17 amid the global markets buckling on concerns relating to the US sub-prime lending. NRIs purchased shares worth a net of Rs 6.94 crore in August so far in BSE. They bought Rs 3.29 crore shares in July when the index gained about 900 points but the month also saw a sharp decline towards the last week.