FII inflow into Indian stocks crosses $7 bn
Foreign Institutional Investors (FIIs) infused a net amount of USD 3.23 billion (about Rs 17,211 crore) during February, taking the total for 2013 so far to USD 7.29 billion (Rs 39,270 crore ) for Indian stocks.
Market analysts attributed strong FII inflows to signs of easing interest rates by the Reserve Bank and the subsequent impact of improved liquidity position.
Additionally, a slew of measures taken by the government, including the postponement of GAAR (General Anti Avoidance Rules)implementation by two years to April 1, 2016 and partial decontrol in diesel prices have also attracted foreign investors.
During February, FIIs were gross buyers of shares worth Rs 34,298 crore, while they sold equities amounting to Rs 17,087 crore, translating into a net investment of Rs 17,211 crore (USD 3.23 billion), as per data available with market regulator Sebi.
Foreign fund houses also infused Rs 1,249 crore (USD 234 million) in the debt market in February. This takes the overall net investments by FIIs into debt markets at Rs 4,196 crore (USD 785 million) so far this calendar year.
"FIIs have been betting high on Indian equities since last six-seven months and reform measures taken by the government has further boosted the sentiments," Wellindia Executive Director Hemant Mamtani said.
"Besides, FIIs have been infusing money into the Indian market on account of change
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