FIIs infuse over Rs 9k cr in Sept
- Rs 20L seized from Ajit Chandila relative's home, another ex-cricketer held
- India and China ask SRs to work on more border steps
- Can't charge man with rape over consensual sex even if marriage eludes: Supreme Court
- Saudi Arabian authorities refuse to accept new Indian passports
- FIR filed against Facebook for not discontinuing hate page
Betting high on India's reform initiatives, foreign investors have pumped in more than Rs 9,000 crore (about USD 1.67 billion) in the country's equity market so far this month.
Analyst expects inflows will continue in the coming months as well.
Foreign Institutional Investors (FIIs) investment in the country's equity market has reached to Rs 72,215 crore (USD 13.97 billion) so far in 2012.
Market analysts believe that huge inflows was mainly on account of recent big-ticket announcements by government, including operationalisation of 51 per cent FDI in multi-brand retail, allowing foreign carriers to buy up to 49 per cent stake in domestic airlines.
Further, liberalisation of the broadcasting sector would prove as major sentiment lifter for foreign investors, they added.
"FIIs inflows was driven by policy reforms announced by the government last week and I think they will continue to invest in the domestic equity market in next six to eight months as well," Wellindia Vice President Research Vivek Negi said.
"We hope that government would continue with its reform initiatives in other sector, he added.
During September 1-21, FIIs were gross buyers of shares worth Rs 39,037 crore, while they sold equities amounting to Rs 29,892 crore, translating into a net investment of Rs 9,145 crore, according to data available with the market regulator Sebi.
Apart from equities, FIIs also invested Rs 909 crore in the debt market during the period under review.
Geojit BNP Paribas Research Head Alex Mathews said foreign investors have sidelined the concerns of sluggishness in the economy and high interest rates. They have shown faith in the Indian equity market and invested heavily on government's fresh initiatives on policy reforms, he added.
"FIIs have also got support from easing of monetary policy by the US Federal Reserve and they also cheered the decision of hike in diesel prices," Negi added.
- Former Ranji player among 3 more held
- Rajasthan Royals to file FIR against tainted trio
- If found guilty, BCCI to ask ICC to erase Sreesanth records
- Top cops among 42 named in death of blast accused
- Manmohan-Li talks: PM takes tough line on incursion issue
- Security forces blame Maoists, villagers say CoBRA man was killed in 'friendly fire'