Fiis Issue Warning

Foreign institutional investors (FIIs) yesterday came out strongly against the political drama unfolding in the Union capital. Stressing that continued uncertainty would affect the market outlook further, most of them urged the political parties to look beyond grabbing power at the Centre and separate politics from economic issues.

Peregrine Capital (India) chairman Francis Pike said: I strongly disapprove of Sitaram Kesris actions. It will be known as one of the shameful incidents in the history of Indian politics. However, all such political turbulence will not have an effect on the stock markets, though there may be some initial reaction, he said. According to Pike, the UF should not compromise.