Continuing with the trend they set earlier this year, non-resident Indians have kept focus on the silver lining to all the ‘Black’ days in the rather eventful journey of Indian stock markets of late.

It is quite amazing that while local investors froze with fright and even foreign institutional buyers dithered, the NRIs kept on with their buying spree during the latest bear run.

A recent analysis of NRI investments shows they are now waiting for opportunities presented by sharp movements. So they doubled their equity investments in August as compared to July. The BSE Index or ‘Sensex’ lost around a thousand points in four weeks during the July-August period as a result of the sub-prime crisis that broke out in the US and sent shock waves across the globe.

Well in fact, the US sub-prime mortgage crisis has no direct relationship with Indian stocks or the Indian economy for that matter. But, it’s the market sentiment that counts when it comes to stock indices.

So, worries about US housing downturn and fears of global credit squeeze affected global markets. Thursday, August 16, saw huge losses in the Asian markets including the Bombay Stock Exchange which recorded the second biggest loss in absolute terms in history