FIIs' Indian equity investment reaches $19 bn in 2012
26 Nov 2012
Foreign Institutional Investors (FIIs) have invested around $19 billion in Indian equities in 2012, the second-highest yearly investment so far.
FIIs were gross buyers of shares worth Rs5,80,183 crore and sellers of equities worth 4,80,778 crore with a net inflow of Rs99,405 crore ($19 billion), according to data provided by the Securities and Exchange Board of India (SEBI).
This is the second-highest yearly investment since FIIs entered India in 1992. In 2010, FIIs had invested a record $29 billion in the country's equity market.
However, in 2011, they turned out to be net sellers pulling out $358 million.
''FIIs continued with the positive bias towards Indian equities as the lack of investment options make the country an attractive destination. India is still considered as a better market compared to other markets in Asia or emerging markets,'' said Sudip Bandyopadhyay, managing director of brokerage firm Destimoney Securities Pvt Ltd.
''I think India would easily cross $20 billion mark this year,'' he added.