FIIs pour in $1.12 bn in Indian equity market in Oct
New Delhi: Overseas investors have pumped in nearly Rs 7,000 crore (USD 1.12 billion) in the Indian equity market since the beginning of the month tracking global cues, including easing concerns over the US tapering.
With this, the total foreign investment in the country's stock market has reached to Rs 80,174 crore (USD 14.77 billion) so far in 2013, according to data latest available with the market regulator Sebi.
During October 1-18, Foreign institutional investors (FIIs) were gross buyers of equities worth Rs 31,826 crore while they sold Rs 24,879 crore of bonds at the same time, resulting in a net inflow of Rs 6,946 crore (USD 1.12 billion).
However, FIIs have pulled out Rs 6,877 crore from the debt securities during the month. This takes the net outflow to Rs 43,454 crore from the debt market since the beginning of the year.
Market experts attributed the inflows to easing concerns over the US tapering as well as on speculation the US Federal Reserve would maintain its monetary stimulus until next year.
FIIs, the main drivers of the Indian stock market, have pushed up the benchmark S&P BSE Sensex by 1,503 points or 7.75 percent in this month so far to settle at 20,882.89 points.
As of October 18, the number of registered FIIs in the country stood at 1,744 and the total number of sub-accounts at 6,360.