FIIs invest over Rs 7,100 cr in Indian equities in 5 sessions

Bullish foreign fund houses have invested over USD 1.5 billion (about Rs 7,100 crore) in the Indian equity market in the first five trading sessions of this month. Till April 11, foreign institutional investors (FIIs) were gross buyers of shares worth Rs 23,202.20 crore, while they sold equities amounting to Rs 16,095.80 crore, resulting in a net investment of Rs 7,106.50 crore or USD 1.6 billion, as per the data available with the capital markets regulator Sebi. According to analysts, FIIs have been pumping funds into India because of its strong growth potential and feels that in the coming days too, the foreign fund houses are likely to infuse money in the Indian bourses . "The FII continued to witness inflows in April after having a good supply of money in the last month. One of the reason could be the expectation of good corporate earnings," SMC Capitals Equity Head Jagannathan Thunuguntla said. Besides, foreign fund houses were negative on debt market and pulled out Rs 1,227.00 crore or USD 275.94 million. This takes the overall net investments by FIIs into stocks and bonds to a total of Rs 5,879.50 crore or about USD 1.32 billion. In January 2011, overseas investors had pulled out Rs 4,813.2 crore from stock market. The outflow continued in February too with Rs 4,585.5 crore being taken out from equities but the scenario changed in March, when they were net investors of equities worth Rs 6,749.60 crore. This has taken the gross purchases of equities in the country by FIIs so far this year to over Rs 1.91 lakh crore. After taking into account the outgo of Rs 1.86 lakh crore, overseas investors have made a net investment of Rs 4,605.60 crore. Source: www.economictimes.indiatimes.com Thanks, Gaurav Agarwal Head Dealer DENIP Consultants Pvt Ltd