Economic Times 1 Apr 2010 FIIs Invest Rs 20,600 Cr In Stocks In Jan Mar Quarter
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"The recovery in the capital markets during the year 2009 has been outstanding. This was largely helped by FII inflows," SMC Capitals' Equity Head Jagannadham Thunuguntla said.
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Economic Times 1 Apr 2010 FIIs Invest Rs 20,600 Cr In Stocks In Jan Mar Quarter
- 1. FIIs invest Rs 20,600 cr in stocks in Jan-Mar quarter Updated on Thursday, April 01, 2010, 18:01 New Delhi: Overseas fund houses have made a net investment of over Rs 20,600 crore ($4.5 billion) in Indian stock markets during the last three months of financial year 2009-10, according to the SEBI data. Analysts said the positive trend will continue in the coming periods. As per the data available with market regulator SEBI, foreign institutional investors were net buyers of shares worth Rs 20,644.40 crore during the January-March period. Significantly, FIIs poured over Rs 1,09,300 crore in Indian stock markets in 2009-10. In contrast, they had sold shares worth Rs 47,706.2 crore in 2008-09. Market analysts said that a weak dollar against rupee and government's massive divestment plans will attract more inflow in the coming months of this fiscal. "In coming quarters also, inflow from FIIs will be robust as they are bullish on the government's policies regarding the curb on the fiscal deficit," Geojit BNP Paribas Financial Services Research Head Alex Mathews said. Interestingly, during 2009-10, the Bombay Stock Exchange's benchmark Sensex gained over 80 percent from 9,708.50 points as on March 31, 2009. "The recovery in the capital markets during the year 2009 has been outstanding. This was largely helped by FII inflows," SMC Capitals' Equity Head Jagannadham Thunuguntla said. "Unless something dramatic happens in the domestic or the international markets, there is no reason why not to believe that flows would continue," he added. "The lined up public divestments will also provide a good opportunity for FIIs as they have investment plans for the Indian equity markets," Mathews further said. During the first three quarters of the last fiscal, foreign funds put over Rs 89,500 crore in Indian equities. The fund houses had pulled out a net Rs 41,555 crore from Indian stocks in April- December period of 2008-09.