FIIs invest Rs 3,160 cr in equities this month so far
Overseas investors continue to invest in the stock markets with pumping over Rs 3,160 crore in equity shares in this month so far.
Mumbai: Overseas investors continue to invest in the stock markets with pumping over Rs 3,160 crore in equity shares in this month so far.
From November 1-9, foreign institutional investors (FIIs) were gross buyers of shares worth Rs 15,350 crore and sellers of equities worth Rs 12,184 crore -- translating into net inflow of Rs 3,166 crore, according to the Sebi data.
This takes the FII investment in the Indian equity market to Rs 96,861 crore (USD 18.62 billion) in 2012 so far.
Experts said FIIs continued with the positive bias towards Indian equities on account of the reform initiatives taken by the government that have strengthened chances of better economic growth and improved market sentiment.
FII inflows will continue in the coming months as the country is riding on positive news flows, they said, adding that the lack of investment options make India an attractive destination.
This month, apart from pouring funds in equities, FIIs also infused Rs 436 crore in the debt market.
"The inflows into domestic equities continued on the government's reform measures and I hope it will continue in the coming months as well," Wellindia vice-president Research Vivek Negi said.
Kishor Ostwal, Head at CNI Research, said, "Steps taken by the government are being seen as market friendly by investors and in my view FIIs will continue to react positively on the domestic equity market."
However, the BSE barometer Sensex has dropped by about 219 points, or 1.15 percent, this month. The 30-share index settled at 18,683.68 points on Friday last week.
As on November 9, the number of registered FIIs in the country stood at 1,753 and total number of sub-accounts were at 6,267.