FII inflow in Indian equities reaches Rs 1.13 lakh crore

The Foreign Institutional Investors (FIIs) are figured to have made a net inflow of over Rs. 1.13 lakh crore in the Indian equity market in 2013. At gross level, FIIs purchased stocks worth Rs 7.96 lakh crore in 2013 and sold equities to the tune of Rs 6.84 lakh crore; translating into a net inflow of Rs 1,13,136 crore.

Nevertheless, overseas investors pulled out Rs 50,847 crore from the bond market in 2013. This takes the overall investment by FIIs into the debt and equity market together to Rs 62,288 crore. Despite their unpredictable ‘hot money’ investment, these overseas entities are amongst the most important drivers of Indian stock markets.

As per the experts, FIIs are looking forward to a stable government that can move reforms process faster, irrespective of which political party comes to power at the Centre next year. Likewise, a strong performance by BJP in the recent assembly elections has promoted the chances of a stable government at the Centre.

Ladakh celebrates Losar to mark New Year

Ladakh region of Jammu and Kashmir celebrated the festival of Losar with traditional and religious fervor and gaiety. The festival which is celebrated for 15 days marks the start of the New Year.

Abour Losar:

Losar is a centuries-old community-based socio-religious festival celebrated by the Buddhists of Ladakh. The region has 19 major monasteries celebrating 18 monastic festivals every year. The festivities start with prayers to the god and goddess common to a group of families, known as Faspun. On the eve of Losar, family ascendants are remembered by offering scrumptious food and lighting the traditional lamp in front of the graveyard.

During Losar, Lardaak offers prayers to the village god and goddess and performs rituals to purify the individual, who performs the traditional role of the three Lama Jogis and grandparents.

Lardaak heads the Karoks, the dancers of the celebrations. Karoks have to complete the dance 360 times before the deadline set by the village astrologer. Lama Jogis visit every house of the village, wishing prosperity. The festivities are also joined by kids and youngsters who cover their faces and dress up in animal skin jackets. They visit houses to wish a prosperous New Year.