In the period November 1- November 12, FIIs were gross buyers of Indian equities worth Rs 22,584 crore while they stood as net sellers of shares worth Rs 18,582 crore. Therefore, the net investment by FIIs in the above period stood at Rs 4,002 crore, data released by the capital market regulator, the Securities and Exchange Board of India (SEBI) shows.
Total foreign investment by FIIs in the Indian equity market thus far this year stands at Rs 92,936 crore.
Net investment by FIIs in Indian equities in the months of September and October reached Rs 28,700 crore, the data showed.
The continued availability of cheap money in developed markets such as the US where the Fed has decided to maintain record QE has bolstered foreign investment in stock markets of emerging markets such as India.
Further, hopes that the Indian government will contain its twin deficits including current account deficit and fiscal deficit, and robust export growth has renewed optimism over the economy.
Dion Global Solutions Ltd.