FII investments in Indian stocks cross $3 billion in January-April 2007
30 Apr 2007
Mumbai:
Foreign Institutional Investors (FIIs) have invested a
net $3.05 billion (over Rs13,500 crore) in Indian stocks
so far in 2007 even as total FII investments in the country
crossed $52 billion.
Of the total FII investments this year, more than half
the amount came in the month of April alone after the
overseas investors returned to the bourses with positive
sentiments as Sensex regained its once-lost 14,000 level.
FIIs purchased stocks worth close to Rs46,400 crore and
sold stocks worth about Rs39,500 crore in April 2007,
taking their net investment to about Rs6,900 crore (about
$1.56 billion), data available with the market regulator
SEBI, showed.
Net FII investment for January-April 2007 is estimated
to remain around $3 billion, as against about $3.3 billion
in the same period of 2006, market sources said. However,
net FII inflows in the first four months of 2007 was just
over $1 billion, less than the amount invested in the
same period of the previous year.
While it was raining dollars in the Indian stock market
since the beginning of this year, the bourses had witnessed
a massive herd-like flight of FIIs after a sharp fall
in February this year.
Now, with the corporate results meeting or beating expectations,
the sentiments have improved considerably, said a broker.
FIIs had purchased stocks worth a net of about $8 billion
in the whole of 2006, as against a record high of $10.7
billion in 2005.
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