FIIs invest a staggering Rs 3634 crores in cash market on election day

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FIIs invest a staggering Rs 3634 crores in cash market on election day
Foreign Institutional Investors (FIIs) turned bullish on the Indian markets and net invested a staggering Rs 3634 crores in the cash market on election day.

They net bought in the market on May 16 to the tune of Rs 11962.31 and net to the tune of Rs 3634.82. Domestic institutions on the other hand were net sellers to the tune of Rs 3409 crores.

FIIs have been one of the prime drivers in the Indian market, even as domestic institutions have been selling.
In the month of April 2014, FIIs pumped Rs 9600 crores in the Indian markets on hopes of a stable government. April was the eighth consecutive month of inflows from FIIs.

Market analysts believe that there could be more fund inflows on hopes of a stable government for the next 5 years. Hopes are that the Narendra Modi led government would push the development agenda and hence growth in the coming years has fuelled FII interest.

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Read more about: fiis, narendra modi
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