New Delhi, March 10: After a hesitant start, FIIs seem to have joined the party on the bourses. Post-Budget, a whopping Rs 430 crore come into the Indian markets through the FII route while the Sensex has gained 16 per cent. According to the figures by Sebi, the net FII investment on March 9 was Rs 170 crore ($ 39.8 million) as against $ 65.2 million in the entire month of February.On March 9 (reporting day March 10), gross purchase by the FIIs was Rs 304.4 crore, while gross sales was Rs 135.1 crore, adding to a total turnover of Rs 439.5 crore. Since the Budget was presented on February 27, the total FII turnover has been Rs 2113.3 crore.
``These days, FIIs are doing a lot of portfolio churning. After the Budget, some sectors have found favour with FIIs, while other have been rendered out-of-favour. The FII turnover is rising as a result of this portfolio restructuring,'' said a market observer.
Of late, the debt segment of the market started finding some favour with the FIIs. After remaining almostdormant for the past few months, since March 8 the total FII turnover in this segment is Rs 211.3 crore. While the gross purchase is Rs 139.1 crore, gross sales is Rs 72.2 crore, logging a net figure of Rs 66.9 crore ($ 15.8 million).
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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