FII party continues amid reforms pledge

FII party continues amid reforms pledge
Foreign Institutional Investors (FIIs) continue to pump funds into the Indian stock markets as the Indian government commits to undertaking stellar reforms to fasten the pace of growth in Asia's third largest economy.

According to India's capital market regulator, the Securities and Exchange Board of India (SEBI), the FIIs pumped over USD 2.44 billion in the Indian stock markets this month thus far.

Gross equity purchased by FIIs in the period December 3 to December 14 stood at Rs 39,435 crore while gross equity sold by FIIs in the same period stood at Rs 26,157 crore, therefore amounting to net FII inflows of Rs 13,278 crore.

Total FII investment in the nation's equity market in 2012 so far stands at a mammoth USD 22.22 billion.

This year's net FII investment is the second highest level of inflows made by FIIs in a single calendar year since their foray into the Indian capital markets in 1992.

Foreign investors have been pinning their hopes on the Indian stock markets after the government vowed to push through key economic reforms such as allowing FDI in multi-brand retail and aviation, raising the FDI limit in insurance to 49 per cent and allowing FDI in the pension sector, reviving investor sentiment.

In 2012, the benchmark Sensex has risen by 3,862 points or 25 per cent amid robust FII buying.

Read more about: fii
Story first published: Monday, December 17, 2012, 10:30 [IST]
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