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Sunday, July 08, 2012
FIIs pour over Rs.5,200 Cr in four trading sessions
Experts attributed the inflow to the optimism generated by Manmohan Singh taking charge of the finance portfolio
Press Trust of India / Jul 08, 2012
Overseas investors poured in a staggering over Rs.5,200 crore in the equity market in just four trading sessions of the month amid optimism generated by the Prime Minister taking charge of the country's finances.
During July 3 to 6, Foreign Institutional Investors (FIIs) made gross purchase of equities worth Rs 13,968.10 crore and sold shares valued at Rs 8,756.10 crore -- a net inflow of Rs 5,212 crore ($938 million), according to the data available with the market regulator Sebi.
Market experts attributed the inflow to the optimism generated by Prime Minister Manmohan Singh taking charge of the finance portfolio. Investors are hopeful that the Prime Minster would take steps to revive the economy.
"The FII movement is partly because of fundamental factors and some optimism generated as the PM taking over as Finance Minister. Besides, potential implications of GAAR are also being seen as a very big positive. This inflow would sustain when all the policy talks would translate into action," a stock broker said.
In July, while foreign investors infused a total of Rs 5,212 crore in stocks, they seem to have gone slow on the debt market pouring in Rs 879 crore. This takes the collective net investment into stocks and bonds to Rs 6,090 crore during the period.
The BSE 30-scrip benchmark Sensex, ended 91 points higher in a week to close at 17,521.12 points on Friday.
FIIs had pulled out Rs 1,957 crore from equities in April-June this year, in contrast to a hefty Rs 44,000 crore investment in stocks in the previous quarter mainly. This was mainly due to concerns of economic growth and depreciating rupee, say analyst.
After taking the latest inflows into account, FIIs have made an investment of Rs 47,205 crore into the equity market so far this year and Rs 21,740 crore into the debt market during the same period.
As on June 3, the number of registered FIIs in the country stood at 1,756 and total number of sub-accounts were 6,342 during the same period.