Investments by FIIs’ in stock market cross Rs 1 lakh crore mark in 2013
Foreign Institutional Investors (FIIs) equity investments in the Indian stock market have crossed Rs 1 lakh crore so far in 2013, while inflows are likely to boost up further after state assembly poll results have improved the probability of a BJP-led government at the Centre.
As per SEBI information, FIIs, key investors in the Indian stock market, were gross buyers of shares worth Rs 7,46,334 crore and sellers of equities worth Rs 6,45,757 crore till December 6, 2013. This translates into a net inflow of Rs 1,00,577 crore ($18 billion).
Since FIIs entry into the country’s capital markets in 1992-93, net inflows have exceeded Rs 1 lakh crore only in 2010 and 2012. The overseas investors had net invested Rs 1,28,360 crore in 2012, while in 2010, they made a record net inflow of Rs 1,33,266 crore.
As per experts, fund inflow by FIIs will step up further in the coming months as a major win for Bharatiya Janata Party (BJP) in assembly elections has improved the likelihood of the party coming to power at the Centre in 2014.
Noticeably, of the total net inflow, around Rs 37,000 crore flowed in during the last 3 months, following the steps taken by the RBI to resurrect the weakening rupee and revive economic growth.
Categories: Economy & Banking Current Affairs